For the third month in a row, the inflation rate stabilized at 7.4% during the month of November, the National Institute of Statistics (INS) announced Wednesday, December 5, 2018.
This stability is mainly due to the unchanged rate of increase in prices of most consumer products with the exception of foodstuffs whose rate of increase fell from 6.3% to at 6% in annual variation, explained by the stability observed in the price of meat and edible oils against a significant increase last year, said the INS.
Deceleration of rising food prices
In November 2018, food prices rose 6% year on year against 6.3% the previous month. This increase is explained by the increase in meat prices by 11.7%, milk, cheese and egg derivatives by 10.8%, fish by 7.2% and fruits by 6.4%.
In addition, vegetable and edible oil prices fell by 1.3% and 1%, respectively, compared to the same period of last year.
Significant increase in transport prices
On a year-on-year basis, transport group prices grew by 13.5% due to vehicle price increases by 16%, vehicle operating expenses by 13.5% and transportation services by 9.8%.
Core inflation and Inflation of administered products
The core inflation rate (excluding non-food and drinks and non-energy) is 7.9%.
Prices for free products (non-administered) went up by 8.1% compared to 4.9% for administered prices.
Free food products grew 6.6% compared with 2.2% for administered products.