Inflation slowed in November

Butter prices are dropping, but yogurt and eggs are going up

Consumer prices in November went up by 0.1 percent compared with October, primarily due to a rise in transportation prices, though egg prices also rose substantially. Butter prices saw a significant drop.

In the year-on-year comparison, food was still driving the increase. The year-on-year rise in consumer prices amounted to 2.6 percent, which was 0.3 percent percentage points down from October, according to the Czech Statistical Office (ČSÚ).

The month-on-month increase in transport prices came mainly from a 1.6 percent rise in automotive fuel prices.

In food and non-alcoholic beverages, prices of eggs were higher by 37.8 percent, poultry by 2.3 percent, yogurt by 3.0 percent, bread and cereals by 0.4 percent. In alcoholic beverages and tobacco, prices for wine were higher by 5.0 percent.

In housing, water, electricity, gas and other fuels, prices of net actual rentals rose by 0.3 percent.

Lower prices in November were seen in recreation and culture due to package holidays being down by 2.1 percent.

In food, fresh butter dropped 5.9 percent, sugar dropped 5.0 percent, and vegetable and other fats by 5.1 percent.

Prices of vegetables were lower by 4.3 percent, with potato prices down by 4.4 percent and prices of vegetables cultivated for their fruit down by 2.8 percent, and fruit dropped by 0.8 percent.

Prices of non-alcoholic beverages were lower by 1.4 percent.

Prices of goods in total rose by 0.2 percent and prices of services remained unchanged compared with October.

In the year-on-year comparison, in November, consumer prices increased by 2.6 percent compared to the previous November. This was. 0.3 percentage points down from October’s increase.

This was influenced primarily by a significant slowdown in the year-on-year price rise in food and non-alcoholic beverages, according to the ČSÚ.

Many kinds of food either slowed down their price growth or dropped from the price rises in October. Prices of fresh butter were higher by 33.3 percent year-on-year compared to 50.7 percent in October, milk rose by 6.9 percent (11.4 percent in October), cheese by 6.9 percent (12.7 percent in October), fruit by 3.8 percent (8.2 percent in October), non-alcoholic beverages by 0.3 percent (4.3 percent in October). Prices of vegetables turned from a price rise by 10.4 percent in October to a drop of 2.3 percent in November.

In restaurants and hotels, prices of catering services slowed down their increase to 6.7 percent from 7.2 percent in October.

In clothing and footwear, the price drop in garments slowed down to -1.6 percent (-1.9 percent in October).

In communication, the drop in prices of telephone and telefax services slowed down to -0.6 percent (-1.8 percent in October).

The biggest influence on the growth of the year-on-year price level in November came from prices in food and non-alcoholic beverages. Prices of eggs rose by 60.0 percent, yogurt by 13.7 percent, bread and cereals increased by 6.3 percent and meat by 4.8 percent.

Prices in housing, water, electricity, gas and other fuels saw prices of net actual rentals rise by 3.0 percent, water supply by 1.2 percent, sewage collection by 0.4 percent, electricity by 0.3 percent.

Prices in transport rose due to higher automotive fuel prices, up by 3.7 percent, and prices in restaurants and hotels rose by 6.1 percent.

A year-on-year drop in the price level was seen in clothing and footwear' (-0.5 percent) and prices in communication (-1.0 percent). In housing, water, electricity, gas and other fuels, prices of heat and hot water and prices of natural gas were lower (-2.2 percent and -0.8 percent, respectively), the ČSÚ stated.

Prices of goods in total went up by 2.3 percent and prices of services by 3.3 percent.

The overall consumer price index, excluding imputed rentals, was 102.4 percent, year-on-year. The 12-month inflation rate amounted to 2.4 percent in November.

According to preliminary data from Eurostat, the year-on-year change in the average harmonized index of consumer prices (HICP) in the EU28 member states amounted to 1.7 percent in October, which was 0.1 percentage point down on September.

The rise in prices was the highest in Lithuania, with 4.2 percent and Estonia, with 4.0 percent. The lowest was in Cyprus, with 0.4 percent.

According to preliminary calculations, the HICP in the Czech Republic in November went up by 0.1 percent, month-on-month, and by 2.5 percent, year-on-year.

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