Business
Posted: 1 week ago

November Sees 7% Inflation, Record Figure after 2017

Geostat, the national statistics service, published official report for November. The consumer basket value changed by 7% year on year and this is a record figure since June 2017.

The figure is twice higher compared to the National Bank’s target inflation rate, which is as follows due to specific groups:
 
Food and soft drinks - the group registers 13.4% growth in prices with 4.02% effect on annual inflation rate. Prices have increased in the following subgroups: fruit and grapes (20.3%), vegetables and garden plants (16.2%), milk, cheese and eggs (15.4%), fish products (14.5%), meat and meat products (13.1%), bread and pastry products (11.9%), sugar, marmalades and other sweets (11.5%), mineral and spring waters, soft drinks and natural juices (8.2%); coffees, tea and cocoa (3.9%), oil and fat (2.8%).
 
Strong drinks, tobacco - prices grew by 15.4% with 1.03% effect on annual inflation rate. Prices have grown on tobacco products (29.9%) and strong drinks (3.4%).
 
Entertainment, recreation and culture – prices have risen by 7% and the group’s effect on annual inflation rate made up 0.4%. Prices have increased on recreation, entertainment and culture products (11.6%), entertainment and culture services (1.6%).
 
Transport – the group recorded 3.1% upturn with 0.37% effect on annual inflation rate. Prices have increased on vehicles (9.6%), transport services (3.0%) and personal transport exploitation (2.6%).
Hotels, cafes and restaurants – prices rose by 7.4% with 0.32% effect on gross index rise. Prices increased in public food (8.4%) and night accommodation services (1.0%).