The inflation rate has dropped to 6.5% in July 2019 from 6.8% in June and 7% in May 2019, according to data released by the National Institute of Statistics (INS) on Monday.
The decrease is partly due to the dissipation of the year-on-year effect of the July 2018 price increases for transportation services (9.2% in June 2019 compared with 6.3% this month).
The INS reported that food prices rose 6.5% in July 2019, as egg prices went up by 16.2%, fresh vegetables by 12%, milk by 9% and meat by 7.6%. Excluding fresh produce, food prices rose 5.9% year-on-year.
Prices for clothing and footwear increased by 8.5% year-on-year, with shoe prices up 9.4%, clothing 8.2%, fabrics up 8.3% and accessories 7.4%.
Prices for miscellaneous goods and services were also up 10.8%, driven by higher personal care prices by 12.8% and personal effects by 11.5%.
Core inflation and inflation of administered products
The core inflation rate (excluding food and energy) went down to 6.5% in July 2019 from 7% in the previous month.
On the other hand, prices of free products (non-administered) increased by 7.3% against 4% for administered prices.
Free non-food products rose by 7.4% compared with 2.4% for administered food products.
Consumer prices rise 0.3% in one month in July 2019
In July 2019, consumer prices rose 0.3% after 0.3% in June 2019 and 0.5% in May.
This increase is mainly related to higher prices for food and hotel services, personal goods and services and also prices for leisure and cultural services.
On the other hand, food prices remained stable during this month, following the 1.4% drop recorded in June.
In fact, the INS reports rising prices for fresh fruit (2.1%) and sheep meat (1.1%), as well as a drop in egg prices (-4.5%), fresh vegetables (-1.8%), and fresh fish (-1%).
The Institute also noted that food service and hotel rates continue to rise (+ 1%) over a month, due to rising restaurant and café service prices by 0.7% and those of hotels 3.5%.
Prices for leisure and cultural products and services also went up by 0.7%, as prices for audio-visual and information processing equipment increased by 0.4%.and recreational and cultural service prices rose by 1.8%.