Inflation rate down 3.9%, October 2016

The inflation rate dropped to 3.9% in October 2016, against 4.2% in September, breaking the upward trend noted early 2016 and cut off only during the month of July,  the latest statistics released Monday by the National Statistics Institute (INS) reveal.

The fall in inflation is a factor of a year-on-year deceleration of  clothing and footwear group, declining from 9.3% in September 2016 to 7.1% in October.

The inflation registered was notably due to the leap in prices of the food group by 2.7%, beverages, year-on-year, as prices of fruits and nuts increased 12 % and those of edible oil and fish grew 5.5% and 6%, respectively. However, meat prices registered a decrease by 3.2% in annual shift.

As regards drink prices, they jumped 5.2%, because of the rise in prices of mineral waters, soft drinks and juices by 7.2%.

Alcoholic beverages and tobacco group fell down 2.4% yoy, due to the fall in prices of spirituous beverages by 7.5% and tobacco by 1.9%.

Prices of the clothing and footwear group grew by 7.1%  compared to October of last year, mainly due to the increase in prices of footwear by 8.3%, apparel by 6.8% and accessories by 8.1%.

The index of housing and domestic energy group registered a rise of 9% compared with the same month of the previous year, due to a 15.5% rise in prices of drinking water and sanitation, with the last review being conducted in June, 2016.

Besides, the index of rental prices was up 7.5%. The upward trend has also affected prices of building materials and maintenance of housing (0.8%).


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