IMPROVING LIVES THROUGH DATA ECOSYSTEMS

Annual CPI inflation dropped to 5,8% in November 2014 from 5,9% in October.  Petrol and food prices, which are key drivers of changes in the CPI both showed lower annual inflation rates.  Food inflation continued its slowing trend with a 7,7% annual rate compared to 8% in October.  The main drivers of the steadily declining food inflation have been the bread and cereals (5,5%), and oils and fats (-1,7%) groups.  Meat and dairy products on the other hand continue to show steady inflationary pressures.  Meat inflation stood at 9,1% and dairy products at 12,9% in November.  Hot beverages increased by 8,3% year on year.

The petrol price dropped by 45c/l in November, the third successive monthly drop and the cheapest since November 2013.  Annual petrol inflation now stands at 1,2%.

Restaurants and hotel prices increased strongly in November. Hotel inflation reached 9,2% in November, 5,6% of which has accumulated over the past four months.  Restaurant prices increased by 1,1% in November pushing the annual rate to 9%.  The prices of alcoholic beverage in restaurants have increased by 18,6% over the past year, compared to only 7,2% when bought in a shop.

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