Consumer inflation edges higher in August

The latest increase comes after four consecutive months of decline.

Patrick Kelly, Chief Director for Price Statistics, said the slight increase comes in spite of lower food prices.

"This was not enough, however, to counteract a rise in fuel prices and increases in municipal tariffs.

The monthly change in the consumer price index was 0,3%, down from 0,9% in July. The housing & utilities and transport categories drove much of the 0.3% increase, each contributing 0,1 of a percentage point to the monthly rate," says Kelly.

Kelly said the annual inflation for food & Non-alcoholic beverages declined for a fifth straight month, softening from 9,9% in July to 8,0% in August. 

"The bread and cereals category registered an annual rate of 9,9%, lower than July’s reading of 13,1%. Several products were cheaper in August compared with July, including white bread, brown bread, maize meal, and cereals. 

“Rice put a damper on the party, however, with prices jumping by 3,4% month-on-month.

“General meat inflation was softer too, with the annual rate declining to 3,6% from 5,1% in July. Prices for most beef and chicken products declined between July and August, with the exception of chicken giblets and beef extract. The price index for meat was 0,7% lower in August compared with July.

“The milk, egg and cheese category followed the same script. The annual rate eased from 14,4% in July to 11,9%. A number of products registered lower prices in August compared with July, including fresh full-cream milk, eggs, and cheddar cheese. Favourite treats such as condensed milk and custard were sadly more expensive," he added..

ALSO READ