The inflation rate fell to 8.3% in November, compared with 8.6% in October, the National Statistics Institute (INS) announced on Tuesday.
This fall in inflation is due to the slowdown in the rate of increase in prices between November and October this year compared with the same period last year, explains the Institute.
In fact, the annual rate of increase for ‘food’ fell from 13.1% to 11.9% and for ‘furniture, household equipment and routine household maintenance’ from 8.8% to 8.1%.
The overall increase in food prices was mainly due to a 35% rise in the price of coffee powder, a 29% rise in edible oils, a 28% rise in sheep meat prices, a 17.1% rise in beef prices and a 14.1% rise in fresh fruit prices.
The prices of industrial goods rose by 7.4%, due to a 5.8% increase in the price of construction materials, a 9.7% rise in the price of clothing and an 8% increase in the price of household goods.
In services, prices rose by 6.3% year-on-year, mainly due to a 10.7% increase in the price of restaurants, cafés and hotels, a 14.4% rise in the price of public and private transport, a 13.3% increase in the price of financial services and a 5.1% increase in the price of insurance services.
The core inflation rate (excluding food and energy) fell slightly to 7.3% from 7.4% in the previous month. Prices for non-regulated products rose by 9.2% year-on-year.
Prices of regulated products went up by 5.2%. Unregulated food rose by 13.4%, compared to 3.3% for regulated food.
