IMPROVING LIVES THROUGH DATA ECOSYSTEMS

Annual CPI inflation dropped to 5,3% in December 2014 from 5,8% in November 2014. 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 7,4% annual rate compared to 7,7% in November 2014. The main drivers of the declining food inflation have been bread and cereals (4,9%), vegetables (4,9%) and fruit (9,7%). Meat products continue to show steady inflationary pressures. Meat inflation stood at 9,4% in December.

The petrol price dropped by 69c/l in December. This was the fourth month in a row that the petrol price decreased. In December petrol had an annual deflation of 5,5% from an annual inflation of 1,2% in November 2014.

Books, newspapers and stationary showed large increases in December 2014 (1,1% monthly increase), with newspapers increasing by 3,1%. Inflation for this group now stands at 11,4%.

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