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):


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):


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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