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Consumer prices increased by 2.0% in average from 2011 to 2012

Price Index – Annual average rates of change in 2011 and 2012

Here are published annual average rates of changes of the Consumer Price Index (CPI) in 2012. Monthly and year-on-year changes of the Consumer Prices Index (CPI) in December 2012 were already published on 10th January.

Annual averages and year-on-year rates of changes are different: annual averages refer to the whole set of prices observed during one year compared to those observed during the previous year. The year-on-year price changes refer to the prices observed during a particular month compared to those observed during the same month of the previous year.

Annual average rate of the consumer price index (CPI) increased by 2.0% in 2012 after 2.1% in 2011. Excluding tobacco, the annual average rate of the CPI rose by 1.9% in 2012, down from 2.1% in 2011. Tobacco prices went up by 6.2% in 2012.

Food prices speeded up

Food prices soared by 3.0% in 2012, up from +1.9% in 2011 owing to a large hike in fresh foodstuff prices (+5.2% after —1.2% in 2011). Excluding fresh foodstuffs, food prices rose a little more in 2012 than in 2011 (respectively by +2.7% and +2.4%). The largest increases on the annual change in the food prices excluding fresh foodstuffs concerned meat (+3.0%), alcoholic beverages (+4.0%), coffee (+6.0%) and soft drinks, fruit juices and syrups (+6.1%). On the other hand, bread and cereal prices grew almost at the same rate in 2012 (+1.8%) than in 2011 (+1.9%).

Energy prices slowed down in 2012

Energy prices rose by 5.2% in 2012 after +12.3% in 2011, following changes in petroleum product prices (+5.8 % in 2012 down from +15.8% in 2011). Domestic gas and electricity prices went up respectively by 7.1% and 3.1% in 2012.

Health prices shrank in 2012

Health prices went down by 0.7% in 2012 as a consequence of a new drop in medical product prices; medical appliances and equipment declined by 2.5% in 2012 (after —1.5% in 2011). Besides, rises in medical service prices were more moderate in 2012 (+0.9 %) than in 2011 (+1.1%) mainly due to a slowdown in doctor fees (+0.5 % in 2012 after +2.1% in 2011). On the opposite, charges for insurance connected with health shot up in 2012 (+5.4% after +1.0% in 2011).

Other service prices remained dynamic in 2012

Excluding communication prices which slumped in 2012 (—9.5% down from —2.5% in 2011), service prices remained dynamic in 2012. In particular, it was the case for service prices connected with dwellings. Actual rentals increased by 1.6% in 2012 (after +1.2% in 2011), refuse collection taxes by 3.3% and charges for insurances connected with dwellings rose also by 3.3%. Prices of the other services for the maintenance and repair of the dwelling were up by +4.0% and water supply and miscellaneous services relating to the dwelling prices grew by +3.6 %. Besides, accommodation service and catering service prices speeded up in 2012 (+2.8 % up from +2.0 % in 2011, as those for transport services (+2.0 % in 2012 up from +1.3 % in 2011).

Rebound in other manufactured product prices

Clothing and footwear prices increased by 2.2 % in 2012; they were almost steady in 2011 (+0.1%). Prices of the other manufactured products showed relatively divergent changes. Thus, the drop in audio-visual, photographic and information processing equipment prices continued in 2012 (—7.1%). In particular, the jump in photographic and cinematographic equipment was substantial in 2012 (—14.4% in 2012, after —16.0% in 2011). To a lesser extent, prices of tools and equipment for house fell again in 2012 (—2,0 %, the same rate than in 2011). On the opposite, jewel, clock and watch prices remained particularly dynamic (+9.2%, down from +13.5% in 2011), as a consequence of the high level of gold prices.

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