Annual inflation rate down to 4.3% in October

In October 2018, as compared to October 2017, the consumer prices increased by 4.3%, so the inflation rate has dropped from 5% in September, according to the figures released on Monday by the National Statistics Institute (INS).

The increase in October was based on a 5.27% increase in prices for non-food goods, increase by 3.73% of foodstuff and by 2.73% of services prices.

In addition, as compared to the end of December 2017, the prices in October were by 3.23% higher as a result of 4.08% increase in non-food goods prices, 2.69% in foodstuff and 2.18 % of services.

Also, in October, prices rose 0.52% against September, as a result of 0.61% increase in foodstuff prices, 0.52% in non-food goods and 0.35% of services.

In addition, as compared to the previous month, in October the CPI (Consumer Price Index), excluding alcohol and tobacco, prices increased by 0.56%, CPI without fuels by 0.4% and CPI excluding products whose prices are regulated by 0.59%.

Also, during the same period, the CPI excluding vegetables, fruits (September 2014, the fruit group includes fresh fruits and citrus fruit and other fruits), eggs, fuels and products whose prices are regulated, beverages and tobacco increased by 0.32% and the CPI excluding vegetables, fruits, eggs, fuels and products whose prices were regulated increased by 0.36%.

The annual inflation rate calculated on the basis of the Harmonized Index of Consumer Prices (HICP) in October was of 4.2%.

The average inflation rate over the previous 12 months (November 2017 – October 2018) against the previous 12 months (November 2016 – October 2017), based on the CPI, was of 4.6%. Determined on the basis of HICP, the average inflation rate was 4%.

The average monthly inflation rate was 0.3% in the first ten months of this year, as in the first nine months, the rate of non-food goods at 0.4%, foodstuff 0.3% and 0.2% for services. For comparison, in the same period last year, the average was 0.2%, and of 0.3% for both food and non-food goods, and for services was 0.0%.