KSH: Prices rose by 2.8 percent last year and by 2.7 percent in December

Last year, consumer prices were on average 2.8 percent higher than a year before, when inflation was 2.4 percent year-on-year. In December, prices rose by an average of 2.7 percent, ie inflation slowed further from the 3.8 percent in Octoberand the 3.1 percent in November – the Central Statistical Office (KSH) announced on Tuesday.

The average annual inflation rate was only higher than last year in 2012, when the annual price increase was 5.7 percent – Mináry Borbála, head of the KSH reported on the data.

Compared to the previous month, prices decreased by 0.3 percent last December, just like in the last month.

Analysts expected an average annual inflation of around 3 percent in 2018. (MTI)