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Consumer prices rise 2.1% in July

Consumer prices were 2.1% higher on average in July 2017 than in the same month last year, according to a first release of monthly data from the Central Statistical Office (KSH). The highest price rises over the past year were measured for alcoholic beverages and tobacco, as well as food.

In July 2017 compared to July 2016, consumer prices increased by 2.1% on average. Food prices rose by 3.3%, within which the price of pork rose by 12.7%, cheese by 10.8%, sugar by 8.9%, other meat preparations by 8.3%, coffee by 7.1%, and bread by 5.4%. The price of poultry meat fell by 14.9%.

The highest year-on-year price rise of 5.2% on average was recorded for alcoholic beverages and tobacco.

Consumers paid on average 1.8% more for services compared to a year ago, 1.0% more for other goods (pharmaceutical products, motor fuels, household products and recreational goods), 0.7% more for electricity, gas and other fuel, and 0.1% more for clothing and footwear. Consumer durables cost 0.3% less for consumers.

In July compared to the preceding month, consumer prices were unchanged on average. Food prices declined by 0.2%, dominantly due to the 6.0% price decrease of seasonal food items (potatoes, fresh vegetables and fruits).

Of the main groups of consumption, the price of services rose the most from June to July, by 0.9%, within which recreational services were 5.9% more expensive due to the summer high season.

Alcoholic beverages and tobacco became more expensive by 0.7% on average in July. Consumers paid 2.5% less for clothing and footwear due to summer sales.

In January–July 2017, compared to the same seven-month period of the previous year, consumer prices rose by 2.3% on average, the KSH concluded.