BUSINESS IN SHORT

Inflation continues to slow

THE PACE of growth in consumer prices continues to slow as inflation stood at only 0.4 percent in December 2013, which is 0.13 percentage points less than in the previous month. Average inflation last year reached 1.4 percent, the Statistics Office reported on January 14.

THE PACE of growth in consumer prices continues to slow as inflation stood at only 0.4 percent in December 2013, which is 0.13 percentage points less than in the previous month. Average inflation last year reached 1.4 percent, the Statistics Office reported on January 14.

Core inflation stood at 0.4 percent, and net inflation at 0.3 percent in December 2013. In a quarter-on-quarter comparison consumer prices dropped by 0.2 percent.

In annual terms, the price of education rose 5.7 percent; alcoholic beverages and tobacco by 2.4 percent; hotels, cafés and restaurants by 1.6 percent; clothing and footwear by 1.1 percent; recreation and culture by 0.9 percent; health by 0.5 percent; housing, water, electricity, gas and other fuels by 0.3 percent; and food and non-alcoholic beverages by 0.2 percent, the SITA newswire wrote.

On the other hand, when compared annually, prices in transport dropped by 1.2 percent; postal and telecommunication services by 1 percent; furnishing, household equipment and routine household maintenance by 0.7 percent; and miscellaneous goods and services by 0.2 percent, according to SITA.

In monthly terms, prices decreased in food and non-alcoholic beverages (0.9 percent); furnishing,
household equipment and routine household maintenance and health; recreation and culture (all 0.1 percent); while they went up in miscellaneous goods and services (0.2 percent) and transport (0.1 percent). Prices for alcoholic beverages and tobacco; housing, water, electricity, gas and other fuels; postal and telecommunication services; education, and hotels; cafés and restaurants remained at the same level as in November 2013, SITA wrote.

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