Deflation recorded in October

Compared with September, the prices of products and services for personal consumption, measured by the Consumer Price Index, were lower by 0.3 percent on average in October.

This is the second time this year that deflation has been recorded, following a 0.7 percent decrease in prices in March as compared to February.

In October, the consumer prices saw an average year-on-year increase of 6.1 percent.

“The negative monthly inflation rate was affected primarily by a decrease in prices of vegetables, accommodation services, fruit, milk, cheese and eggs,” stated a press release issued by Monstat.

Compared with the last year’s corresponding period, the consumer prices were higher by 9.5 percent on average between January and October.

Across the main groups, the monthly increase in prices was recorded for clothing and footwear, housing, water, electricity, gas and other fuel.

In this period, the prices decreased in the category of hotels and restaurants, and food and non-alcoholic beverages, other products and services, healthcare, furnishings and routine maintenance of the house, transport, alcoholic beverages and tobacco, and recreation and culture.

The prices of other products and services have not changed considerably.