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In August 2012, the consumer prices index increased by 0.7%; year-on-year, it rose by 2.1%

Prices index – August 2012

Monthly change: +0.7%; year–on–year: +2.1%

In August 2012, the consumer prices index (CPI) rose by 0.7%, after a decline by 0.4% in July. The year-on-year change stands at 2.1%, up from 1.9% in July. The price index without tobacco was also increasing by 0.7% (+2.0% year-on-year). In August 2012, price of tobacco was up by 0.1% (+5.7% year-on-year). Adjusted from seasonal variations, the monthly change went up by 0.5% (+2.1% year-on-year). The largest upward pressures on the change in the CPI of August resulted mainly from the increase of prices of energy, especially the sharp rise of oil products. It reflected also the seasonal rises of manufactured products at the end of summer sales and the growth, also seasonal, of prices of services linked with tourism. Those rises were slightly reduced by the seasonal decrease of fresh products.

Prices of energy speeded up

In August 2012, prices of energy went up by 3.6% (+6.9% year-on-year). Prices of oil products jumped (+5.3% ; +8.7% year-on-year). Town gas prices grew also but to a lesser extent (+1.0% ; +6,2% year-on-year), as did those of electricity (+1.2% ; +3.2% year-on-year), linked with increases of contributions for using public distribution networks.

Increase of prices of manufactured products at the end of summer

In August 2012, prices of manufactured products increased by 1.2% (+0.5% year-on-year). Prices of clothing and footwear rose by 6.7% after a drop in July (—13.6%).

Slight seasonal increase of prices of services

For seasonal reasons, prices of services increased in August 2012 (+0.2%; +1.9% year-on-year).

Prices of food products went down

Prices of food products weakened in August 2012 (—0.5%; +2.4% year-on-year). This change resulted from the seasonal decline of prices of fresh products (—4.9%; +5.2% year-on-year), especially those of fresh fruits (—8.7% ; +4.6% year-on-year). Prices of food products except fresh products went up by 0.2% (+2.0% year-on-year).

Slight decrease of core-inflation

Core-inflation (ISJ) was increasing slightly in August 2012 (+0.1%; +1.3% year-on-year).

The Harmonised Index of Consumer Prices (HICP) went up by 0.7% (+2.4% year-on-year).

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