Consumer prices up 3.8% y.o.y. in July

Food prices went up by 7.8%, within which the price of seasonal food items (potatoes, fresh vegetables and fresh domestic and tropical fruits together) became 17.1%, that of other meat preparations 16.1%, the price of sugar 14.5%, salami, sausages and ham prices 11.5% and the price of eggs 8.9% higher.

Alcoholic beverages and tobacco became 6.3% more expensive on average. Within the group, tobacco prices rose by 9.7%, mainly due to an increase in excise duty.

Motor fuel prices were cut by 4.2%.

CPI up 1.1% month-on-month

Compared to June 2020, consumer prices went up by 1.1% on average.

Food prices rose by 0.1%, the 2.2% reduction in the price of seasonal food items (potatoes, fresh vegetables and fruits) only partly offset the 0.4% increase in non-seasonal food items prices. Within seasonal food items, fresh domestic and tropical fruits – instead of their usual price decrease in July of earlier years – became 3.3% more expensive, the price change differing from the seasonal one was owing to the lower-than-usual supply because of the unfavorable weather, KSH notes.

Within non-seasonal food items, edible oil became 2.2%, eggs 1.9%, milk 1.3%, and bread 1% more expensive, while potatoes 6.4% and pork 3.9% cheaper.

The rise in the excise duty on tobacco from July 1  led to a 1.4% increase in the price of the product group.

Services became 1.4% more expensive, within which – as an effect of the abolition of free public parking – motorway toll and the charges for renting a car and parking became 31.1% and those for recreational services 7.6% higher.

As an impact of rising oil prices and excise duty, motor fuels cost 8.1% more for consumers.

In the first seven months of 2020, consumer prices increased by 3.5% on average, compared to January-July 2019.