Inflation rate 1.4% for September
In September, consumer prices increased by 1.4% year-on-year, the Central Statistics Office (KSH) reported today. Prices of electricity, gas and other fuels, as well as consumer durable goods and clothing and footwear decreased, while the highest price rise was observed in case of alcoholic beverages and tobacco.
In September 2013, consumer prices grew by 0.5% month-on-month. In case of food, the price decrease was 0.4% mainly due to the 5.3% price decrease of seasonal food items. Decreases were seen in the cost of flour (3.8%), pasta products (2.1%) and sugar (1.4%). Pork (2.7%), other meat preparations (2.4%), poultry (1.2%) and milk (1.0%) prices increased; food prices excluding seasonal food items were just 0.2% higher month-on-month.
The price rise of alcoholic beverages and tobacco was the highest (3.1%), mainly due to the increased trade margin of tobacco products, according to KSH.
The price rise of clothing and footwear (1.5%) was higher than the average as well, ascribed by KSH as primarily due to the seasonal changes. In other goods (including household and pharmaceutical products, as well as motor fuels and recreational goods), prices increased by 0.6%, a rate higher than the average. Within other goods a 1.5% price rise was observed in case of motor fuels.
Slight price increases were measured in durable goods (0.3%) and services (0.2%). Prices of electricity, gas and other fuels barely increased (0.1%).
In September 2013, food prices grew by 1.7% year-on-year, a rate higher than the average. In this category, substantial price increases were seen in cheese (8.6%), milk (5.7%) and pork (5.6%). Price decreases were observed in eggs (13.2%), sugar (9.1 %), flour (7.0%) and chocolate/cocoa (5.0%). The price rise of alcoholic beverages and tobacco (10.9%) was higher than the average as well.
The price increase of services (3.3%) was also higher than the average while sewage disposal and refuse disposal decreased about 10% in average; local transport grew by 4.9%. In case of other goods prices did not change, comprising a 2.9% price decrease of motor fuels.
Consumers paid 0.3% less for clothing and footwear and 1.7% less for consumer durable goods. Price decreases were observed in some utilities (8.1%), while natural gas and electricity decreased by approximately 10% y.o.y.
In the 28 member states of the European Union, the inflation rate for August 2013 was up 1.5% y.o.y. The lowest annual rates were observed in Greece (-1.0%) and Bulgaria (-0.7%), with the highest seen in Estonia (3.6%) and Netherlands (2.8%).
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