The inflation rate stabilized at 5.4% in September 2020, after successive declines in the last three months.
This stability is mainly explained by the acceleration in the rate of increase in food prices by 5.3% compared with 3.9%, on the one hand and the slowdown observed in the rate of increase in the prices of alcoholic beverages and tobacco to 10.6% compared with 17.5%, on the other hand.
Rising food inflation
In September 2020, food prices rose by 5.3% year-on-year and 3.9% compared to August 2020.
This rate is explained by the increase in prices of vegetables 10.3%, meat by 8.2%, milk, cheese and eggs by 5.8%, fish by 5.8% and fruit by 5.7%.
In addition, olive oil prices went down by 12.9% year on year.
Inflation in services
Over one year, service prices increased by 5.8%. This increase is explained by the rise in transportation services by 7.3%, health services by 6.1%, rent prices by 5.2% and miscellaneous services by 7.9%.
Core inflation and inflation in administered products (excluding food and energy) dropped to 6.3% from 6.8% the previous month and 7.2% the month before.
Products with non-administered prices saw an increase by 5.5% compared with 5.2% for those with administered prices.
Free food products increased by 5.5% against 4.6% for regulated food products.
Increase in food prices
In terms of monthly variation, food prices rose by 1.4% due to a 9.3% increase in egg prices, a 5.4% rise in poultry prices, a 4.0% increase in fresh vegetables and a 3.5% growth in fresh fish prices.
On the other hand, prices for sheep meat and condiments went down by 0.4% and 0.5% respectively.
Rising prices for educational products and services
At the start of the school and university year 2020-2021, the “education” group saw an increase of 3.8%.
Thus, prices of private pre-elementary and primary education services grew 4.2%, private secondary education by 6.1% and school supplies increased by 2.9%.
