Friday, December 20, 2013

November 2013 Consumer Prices

Consumer prices in November (released last Wednesday) has continued to accelerate (log annual and monthly changes; 2000=100):

01_inflation

While the subsidy cuts and excise duty hikes are primarily responsible for the increase in annual inflation, the main mover on the month is rent and utilities, which rose 0.66% (log annual and monthly changes; 2000=100):

02_rent

With electricity tariffs to be raised in January, we’re going to see inflation breaching the 3.0% level, and core inflation getting back to nearly 2.5% – housing and utilities have the second highest weight in the CPI after food.

Technical Notes:

November 2013 Consumer Price Index report from the Department of Statistics

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