Jan 3, 2019

CPI inflation stood at 1.5% in December 2018

Quick Update

  • Annual inflation stood at 1.5% in December 2018, down 0.4 PP compared to annual inflation in November 2018. Core inflation* stood at 0.9% YoY, 0.4 PP lower than in the previous month.
  • From product groups perspective prices increased on alcoholic beverages and tobacco (+4.9% YoY) and food and non-alcoholic beverages (+1.7% YoY). Prices decreased on clothing and footwear (-6.6% YoY) and communication (-2.6% YoY).
  • On seasonally adjusted annualized terms inflation stood close to zero in December 2018. Low inflation is mostly attributed to the declined prices on transportation, household equipment and textile products.
  • According to IMF’s December 2018 Country Staff Report, the authorities anticipate reaching the three-percent target by end-2019—rather than in mid-2019.