November Consumer Price Index Decreased by 0.7%

A decrease in the prices for meat and other locally produced foods has resulted in the November consumer price index dropping by 0.7 percent.

A National Statistics Institute (NIS) report showed that the inflation rate in November rose 5.7 percent, but consumer price index decreased 0.7 percent while October consumer price index was 147.3 and November consumer price index was 146.3 and the main factors driving the decline was the drop in meat and food prices.

Although the inflation rate in November decreased, the rate was still the same as last year and also higher than October’s rate of 5.2 percent.

From October to November 2011, meat prices decreased overall by 2.1 percent: 2.6 percent for pork prices, 3.4 percent for chicken prices and 4.6 percent for fish and seafood prices.

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