Wednesday, 16 October 2013

Inflation rises to 5.1 percent in September

m_Inflation rises to 5

Inflation in the month of September increased to 5.1 percent from 4.4 percent registered in August.

As was the case last time, the rise in inflation is mainly explained by the increase in vegetable prices which shot to 15.6 percent from 9.6 percent in August.

According to the Ministry of Finance figures, food and non-alcoholic beverages contributed 3.0 percent of the 5.1 percent annual change in Consumer Price Index (CPI) as their prices rose by 7.8 percent from 4.9 percent registered in August.

The monthly inflation rise is explained on one side by the 6.3 percent rise in vegetable prices while prices of fish and clothing went down by 2.2 and 2.1 percent respectively and prices of alcoholic beverages declined by 1.2 percent.

As result, the contribution of local goods to headline inflation increased to 4.6 percent in September from 3.5 percent in August. The contribution of imported goods stayed at 0.5 percent in September. The annual average CPI inflation was 4.3 percent in September 2013.

Core inflation (excluding fresh products and energy) in annual change slightly decreased to 3.3 percent in September compared to 3.6 for the previous month and stood at 3.8 percent on annual average.

Inflation rises to 5.1 percent in September


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