Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  December 10, 2012 09:24:47

CR - Consumer inflation in November fell by 0.2% m / m

Consumer prices fell in November compared with October by 0.2%. This decrease primarily influenced by lower prices in public transport, post and telecommunications, recreation and culture. Annual consumer price inflation slowed in November to 2.7% from 3.4% in October.

Monthly decrease Consumer prices in transport caused the second month continued reduction in fuel prices, which in November stood at 3.7%. In 'communications', prices of telecommunication services by 2.6% due to special discounts mobile operators. The decline in prices of recreation and culture primarily caused lower prices of package holidays by 3.9%. Prices of alcoholic beverages fell by 0.9%, the prices of spirits of wine, and 2.7% by 1.2%. In 'restaurants and hotels, prices of accommodation services by 1.5%.

The increase in the price level came primarily growth in prices of food and non-alcoholic beverages, especially where increased prices of vegetables by 3.7%, bread and cereals by 1.3%, meat by 0.6%, cheese by 1.3% butter by 3.3%. In Section Furnishings and household equipment prices increased household textiles by 1.6% and prices of tools and different needs for home and garden by 5.0%. The 'health' drug prices and fees paid by 0.7%. The moderate rise in prices of other goods and services affected by the rise in prices of personal care by 0.5%.

Prices of goods in total decreased by 0.1% and services by 0.4%.

Year on year increase in consumer prices in November by 2.7%, which is 0.7 percentage points less than in October. The slowdown in price growth, although in varying degrees, in the majority of sections of the consumer basket.The reason was mainly marked month by 0.4% in November 2011. This resulted in food and non-alcoholic beverages, which slowed down the prices of milk to 0.5% (from 2.4% in October), yoghurts to 4.2% (from 8.2% in October), the fruit of 4 , 9% (from 9.0% in October), vegetables to 11.8% (from 16.1% in October) of coffee to 8.1% (from 10.2% in October). Sugar prices have moved from a growth of 1.4% in October, down by 3.6% in November. In housing slowed down natural gas prices to 7.7% (from 13.2% in October) due to the price increase from November 2011. Slowdown in transport caused primarily by fuel prices, which were higher by 3.1% (in October by 7.8%). Similarly, in alcoholic beverages and tobacco spirits price growth decelerated to 0.4% (from 4.0% in October).In 'communications deepened the drop in prices of telecommunication services at -5.2% (from -3.0% in October).

Decisive impact on the amount of the total annual level of consumer prices in November were despite the slowdown in the growth in prices of housing, water, electricity, fuel and prices of food and non-alcoholic drinks. In housing were higher gas prices by 7.7%, electricity by 4.2%, water 12.0%, 10.7% of sewage, heat and hot water by 8.4%. Net rents rose by 4.1%, including 9.8% of regulated and market prices by 1.5%. In food, like meat prices in October by 10.2%, with 16.2% of the pork and beef by 11.9%, and prices of eggs by 38.3%.

The reduction in the price growth came from 'clothing and footwear, where prices of clothing fell by 4.4% and footwear by 1.6%. The decline in prices of housing and household equipment were mainly lower prices of instruments and household appliances by 4.7%.

Prices of goods increased by 2.9% and services by 2.6%. Overall consumer price index excluding imputed rent was up 102.9%.

Inflation rate, an increase in the average consumer price index for last 12 months and previous 12 months was 3.3% in November.

Average increase in the harmonized index of consumer prices (HICP) 1) 27 EU member states, according to preliminary data of Eurostat in October2.6%, which is 0.1 percentage point less than in September. The highest annual rates in Hungary (6.0%) and the lowest in Greece (0.9%). In Germany, the rise in prices the same as in September, ie 2.1%. The Slovak price growth accelerated to 3.9% from 3.8% in September. According to preliminary calculations, in November 2012, the HICP in the Czech Republic decreased by 0.3% yoy by 2.8% (in October by 3.6%). Flash estimate, annual HICP for changes Eurozone in November 2012 is 2.2%, as Eurostat. (For more information on the Eurostat website: HICP ).

Source: CSO
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