April 2018 consumer prices up 1.3 percent year-on-year

April 2018 consumer prices up 1.3 percent year-on-year Izvor: Pixabay (ilustracija)

April 2018 consumer prices rose by 0.7 percent compared to March, and by 1.3 percent compared to the same month the year before, the state statistics bureau said on Wednesday.

Raiffeisenbank Austria (RBA) analysts said that the figure means that the inflation rate, measured by consumer prices, continued to rise 17th month in a row, with two consecutive months on record with increased inflation growth.

By sector, the largest year-on-year price rise in April this year was recorded in restaurants and hotels (3.2 percent), followed by rent, utilities, and fuel (2.9 percent), alcoholic beverages and tobacco products (2.5 percent), and health care and transport (1.4 percent).

Prices of food and non-alcoholic beverages, which account for 28 percent of the consumer price index, were 1.3 percent up in April compared to the same month the year before, with the biggest rise in prices if fresh fruit, by 5.4 percent.

Smaller hikes were in prices of recreation and culture (0.9 percent) and education (0.4 percent). Prices in communication services remain unchanged from last year levels, while prices of clothing and shoes fell by 0.8 percent.

In month-on-month terms, consumer prices rose by 0.7 percent in April, with the biggest rise in prices of clothing and shoes (4.4 percent), followed by transport (1.5 percent),. non-alcoholic beverages (0.7 percent), and restaurant and hotels (0.5 percent).

"We expect that the continuing year-on-year rise in consumer prices will be supported by higher prices of food and energy, as well as stronger domestic demand, which should combine to push prices even higher. The average annual inflation rate could be 1.4 percent in 2018, up from 1.1 percent in 2017," RBA analysts said.

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Tagovi: Consumer prices

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