Inflation rate falls to 6.5% in July 2019

The inflation rate has fallen to 6.5% in July 2019 from 6.8% in June and 7% in May 2019, according to data released by the National Institute of Statistics (INS) on Monday.

The INS reported that food prices rose 6.5% in July 2019, as egg prices went up by 16.2%, fresh vegetables by 12%, milk by 9% and meat by 7.6%. Excluding fresh produce, food prices rose 5.9% year-on-year.

The decrease is partly due to the dissipation of the year-on-year effect of the July 2018 price increases for transportation services (9.2% in June 2019 compared with 6.3% this month). Prices for clothing and footwear increased by 8.5% year-on-year, with shoe prices up 9.4%, clothing 8.2%, fabrics up 8.3% and accessories 7.4%.

Prices for miscellaneous goods and services were also up 10.8%, driven by higher personal care prices by 12.8% and personal effects by 11.5%.


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