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The drop in prices slowed in October

Over the first 10 months of 2016, consumer prices fell by 0.6 percent annually.

Illustrative stock photo(Source: SME)

The annual inflation rate amounted to -0.3 percent in October 2016. While core inflation amounted to 0.3 percent year-on-year, net inflation stood at 0.6 percent y/y.

Compared with September 2016, core inflation had an impact on total inflation by 0.17 percentage points. Total inflation was affected by regulated prices by 0.06 percentage points, while indirect taxes did not affect the total inflation at all. Food prices did not affect core inflation, while net inflation had an impact on core inflation by 0.17 percentage points, the Statistics Office informed.

Consumer prices increased 0.2 percent month-on-month in total in October. They rose in the field of clothing and footwear by 1.7 percent; health by 0.7 percent; postal and telecommunication services and miscellaneous goods and services by 0.5 percent each; transport by 0.3 percent; food and non-alcoholic beverages, education, hotels, cafés and restaurants by 0.2 percent each; and furnishings, household equipment and routine maintenance of the house, recreation and culture by 0.1 percent each.

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The prices of housing, water, electricity, gas and other fuels declined by 0.1 percent, while the prices of alcoholic beverages and tobacco remained at the level of the previous month.

In annual terms, consumer prices dropped 0.3 percent in total in October. The prices of food and non-alcoholic beverages fell by 3.2 percent; and housing, water, electricity, gas and other fuels by 1.2 percent. A price increase was recorded in regard to hotels, cafés, restaurants by 2 percent; education by 1.9 percent; miscellaneous goods and services by 1.7 percent; health by 1.6 percent; recreation and culture by 0.9 percent; alcoholic beverages and tobacco, postal and telecommunication services by 0.6 percent each; clothing and footwear, furnishings, household equipment and routine maintenance of the house by 0.3 percent each; and transport by 0.1 percent each.

Over the first 10 months of 2016, consumer prices fell by 0.6 percent y/y in total, according to the Statistics Office.

Topic: Economics


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