A pleasant surprise in the inflation data

In August, consumer prices decreased by 0.6 percent and are 3.7 percent higher than in the previous year – reports the Central Statistical Office (KSH). Analysts expected a higher, 4 percent inflation rate.

Food prices decreased by 1.9 percent in a month, while the price of household energy, declined by 1.2 percent. Consumer prices increased by 3.7 percent in a year, which is equivalent of the annual food price trends as well. The price of household energy increased by 6.1 percent in 12 months, while the price of services increased by 2.8 percent.