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Inflation rate stabilises at 7.7% (INS)



Inflation rate stabilises at 7.7% (INS)

The inflation rate stabilised at 7.7% in May 2018, after a set of increases from 6.9% in January to 7.7% in April, said Wednesday the National Institute of Statistics (INS).

This is mainly explained by the rise in food prices by 9.3% and transport by 9.6%.

The prices of free products (non-administered) edged up 8.5% against 5.0% for administered products. Free food products rose by 10.6% against 2.4% for administered products.

Continued rise in food and transport prices

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In May 2018, food prices rose by 9.3% year-on-year (8.9% in April), following the increase in fruit prices by 17.6% and meat by 15.2%, fish 11.1% and edible oils 9.9%.

The transport group prices jumped 9.6%, year-on-year, driven by the rise 12.9% in vehicle prices and 11.8% in vehicle operating expenses.

Similarly, miscellaneous goods and services were up 10.4%, due to the 10.7% rise in personal care, 9.3% in insurance and 7.5% in financial services.

The underlying inflation rate stands at 7.2% (overall excluding food and drinks and excluding energy).

 Consumer Price Index up 0.4% in May 2018

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The consumer prices rose 0.4% in May 2018, against 1.0% in April. This trend is mainly attributable to higher prices for services (0.5%) and manufactured goods (0.5%).

Similarly, food prices rose by 0.2%, following the increase in prices for the majority of fresh produce in the 2nd half of May, linked to the beginning of Ramadan. Eggs prices climbed 8.5% and meat 1.6%.

According to the INS, prices for clothing products rose 0.8%, as prices for summer apparel rose 0.8% and footwear 0.5%.

Health prices are also up 0.8% due to higher prices for medicines and ambulatory services by 0.9%.

Price increases were also recorded in May 2018, for miscellaneous goods and services (+ 0.5%), as a result of 0.5% increase in personal care prices.

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