inflation – Muhasebe News

Serbia’s inflation rate drops to a 17-month low

MuhasebeNews — Thu, 12 Oct 2023 10:42:18 +0000

Prices of goods and services used for personal consumption in September 2023 in relation to August 2023 increased by 0.3%, on average. Consumer prices in September 2023 increased by 10.2% in relation to September 2022. Consumer prices in September 2023 in relation to December 2022 increased by 6.7%, on average.

Observed by main groups according to the destination of consumption, in September 2023 in relation to the previous month, increase of prices was noted in the groups Transport (1.8%), Restaurants and hotels (0.9%), Health and Furnishing, household equipment and routine household maintenance (by 0.5% each), Housing, water, electricity, gas and other fuels (0.4%) and in the groups Food and non-alcoholic beverages and Alcoholic beverages and tobacco (by 0.2% each). Decrease of prices was noted in the groups Recreation and culture (-2.9%) and Communication (-0.1%).

Source: Statistics Serbia
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Türkiye’s CPI rose to 71.5 in September, up 5.1%

MuhasebeNews — Thu, 21 Sep 2023 07:13:20 +0000

Consumer Confidence Index in Türkiye, September 2023

Consumer confidence index realized as 71.5

Consumer confidence index, calculated from the results of the consumer tendency survey carried out in cooperation with the Turkish Statistical Institute and Central Bank of the Republic of Türkiye, which was 68.0 in August increased by 5.1% in September to 71.5.

Consumer confidence index, sub-indices and rate of changes, September 2023

	Index		Percentage change over the previous month (%)
	August	September	August	September
Consumer confidence index	68.0	71.5	-15.1	5.1
Financial situation of household at present	56.2	56.2	-12.9	0.1
Financial situation expectation of household over the next 12 months	63.7	68.9	-19.6	8.1
General economic situation expectation over the next 12 months	63.1	68.0	-23.2	7.8
Assesment on spending money on durable goods over the next 12 months	89.0	92.7	-5.7	4.2

The next release on this subject will be on October 23, 2023.
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EXPLANATIONS

In monthly consumer tendency survey, consumers’ assessments and expectations on financial standing and general economic situation, also their expenditure and saving tendencies are measured.

The consumer confidence index calculated from the survey results is evaluated within the range of 0-200. It indicates an optimistic outlook when the index is above 100, but it indicates a pessimistic outlook when it is below 100.

The increase in probability of borrowing money index, which is the one of the indices concerning consumer tendency indicates an optimistic outlook while decrease in index indicates a pessimistic outlook. Similarly, increase in assessment and expectation in consumer prices change rate indices indicate a decrease in assessment/ expectation in consumer prices and vice versa. The increase in number of people unemployed expectation index indicates decrease of number of people unemployed expectation, whereas decrease indicates increase of number of people unemployed expectation.

No seasonal effect has been determined in the sub-indices used in the calculation of the consumer confidence index since January 2023. Detailed information on this subject is submitted in the metadata section.

Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Inflation in Bulgaria is at a 15-month low of 10.1%

MuhasebeNews — Thu, 15 Jun 2023 07:40:13 +0000

According to figures from the National Statistical Institute, consumer price inflation in Bulgaria decreased for the fifth consecutive month in May but remained high.

Slower than the 11.6 percent increase in April, the Consumer Price Index, or CPI, increased by 10.1 percent in May.

Since prices increased by 10.0 percent in February 2022, the most recent inflation rate was the lowest.

In May, the annual increase in food and non-alcoholic beverage prices was 14.4%. Health expenditures increased by 12.0% while the cost of other goods and services increased by 15.8%.

In the meantime, the price of utilities, such as housing, water, electricity, gas, and other fuels, increased by 11.8 percent. The price of transportation dropped by 9.5%.

Consumer prices decreased by 0.1 percent on a monthly basis in May after increasing by 0.3 percent the previous month.

Source: RTT News
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Annual inflation in the EU dropped to 8.1% and reached 7.0% in the euro area

MuhasebeNews — Mon, 22 May 2023 06:48:26 +0000

The euro area annual inflation rate was 7.0% in April 2023, up from 6.9% in March. A year earlier, the rate was 7.4%. European Union annual inflation was 8.1% in April 2023, down from 8.3% in March. A year earlier, the rate was 8.1%. These figures are published by Eurostat, the statistical office of the European Union.

The lowest annual rates were registered in Luxembourg (2.7%), Belgium (3.3%) and Spain (3.8%). The highest annual rates were recorded in Hungary (24.5%), Latvia (15.0%) and Czechia (14.3%). Compared with March, annual inflation fell in twenty-two Member States and rose in five.

In April, the highest contribution to the annual euro area inflation rate came from food, alcohol & tobacco (+2.75 percentage points, pp), followed by services (+2.21 pp), non-energy industrial goods (+1.62 pp) and energy (+0.38 pp)

Source: Eurostat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Romanian inflation slows more, as industrial production increases

MuhasebeNews — Mon, 15 May 2023 10:21:20 +0000

Consumer price inflation in Romania decreased for the second month in a row in April, according to preliminary data from the National Institute of Statistics.

Consumer prices increased by 11.2 percent year on year, slower than the 14.5 percent increase seen in March.

In April, food costs jumped 19.84 percent year over year. Non-food prices increased by 5.83 percent, while service costs increased by 10.64 percent.

In April, the consumer price index increased 0.75 percent month on month.

Separate figures from the statistical office revealed that industrial production increased 0.2 percent month on month in March, seasonally and working-day adjusted.

Industrial production declined 3.4 percent year on year in March, according to working-day adjusted data.

In March, manufacturing output increased by 1.1 percent month on month. Utilities output fell 4.1 percent, while mining and quarrying output increased 1.2 percent.

Source: RTT NEWS
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

CPI in Türkiye realized as 43.68% annually

MuhasebeNews — Thu, 04 May 2023 07:20:59 +0000

Consumer Price Index in Türkiye, April 2023

Consumer price index (CPI) realized as 43.68% annually and 2.39% monthly

A change in general index was realized in CPI (2003=100) on the previous month by 2.39%, on December of the previous year by 15.21%, on same month of the previous year by 43.68% and on the twelve months moving averages basis by 67.20% in April 2023.

Annual rate of changes in CPI (%), April 2023

Clothing and footwear with 13.82% was the main group that indicated the lowest annual increase. On the other hand, health with 66.62% was the main group where the highest annual increase realized.

CPI annual rate of changes in main groups (%), April 2023

In April 2023, housing with -1.47% was the main group that indicated the lowest monthly increase. On the other hand, communication with 5.93% was the main group where the highest monthly increase realized (indices, weights and rate of changes (%) by main expenditure groups are given in the Table-1).

CPI monthly rate of changes in main groups (%), April 2023

In April 2023, within indices of 143 basic headings (Classification of Individual Consumption by Purpose-COICOP 5 Digit Level) in the index, the index of 24 basic headings decreased and the index of 6 basic headings remained unchanged while the index of 113 basic headings increased.

The indicator for CPI having specified coverage (B) increased by 48.02% annually and 2.74% monthly

A change in CPI excluding unprocessed food, energy, alcoholic beverages, tobacco and gold was realized in CPI (2003=100) on the previous month by 2.74%, on December of the previous year by 15.36%, on same month of the previous year by 48.02% and on the twelve months moving averages basis by 62.48% in April 2023.

The next release on this subject will be on June 05, 2023.

Austrian Inflation Slows to 9.2%, Lower Than Expected

MuhasebeNews — Thu, 20 Apr 2023 08:29:00 +0000

Austria’s consumer price inflation fell less than expected in March to the lowest level in nine months, owing to a strong drop in fuel and heating oil costs, according to the most recent Statistics Austria statistics.

The consumer price index increased 9.2 percent year on year in March, less than the previous month’s 10.9 percent increase. This was slightly higher than the 9.1 percent growth noted in the flash report.

According to estimates, EU harmonized inflation fell to 9.2 percent from 11.0 percent a month before.

“In March 2022, after the start of the war in Ukraine, fuel and heating oil had become massively more expensive – in comparison, fuel and heating oil prices have now fallen sharply,” said Tobias Thomas, director general at Statistics Austria.

Food prices increased relatively slowly in March 2023, but restaurant costs rose roughly in line with February.

The annual price increase in housing and utilities was 14.1 percent in March, down from 16.5 percent in February. Food and non-alcoholic beverage prices rose considerably, but at a slower rate of 14.5 percent.

The consumer price index rose 0.5 percent on a monthly basis, up from 0.4 percent previously. At the same time, the HICP’s monthly gain of 0.5 percent was verified.

CPI of Türkiye increased by 9.2% in April compared to the previous month

MuhasebeNews — Thu, 20 Apr 2023 08:15:47 +0000

Consumer Confidence Index in Türkiye, April 2023

Consumer Tendency Survey for April was conducted in 81 provinces, including the regions affected by the earthquake.

Consumer confidence index realized as 87.5

Consumer confidence index calculated from the results of the consumer tendency survey carried out in cooperation with the Turkish Statistical Institute and Central Bank of the Republic of Türkiye increased by 9.2% in April compared to the previous month. The index became 87.5 in April while it was 80.1 in March.

Consumer confidence index, sub-indices and rate of changes, April 2023

	Index		Percentage change over the previous month (%)
	March	April	March	April
Consumer confidence index	80.1	87.5	-2.9	9.2
Financial situation of household at present	66.0	69.1	0.8	4.6
Financial situation expectation of household over the next 12 months	79.6	89.8	-5.5	12.8
General economic situation expectation over the next 12 months	83.0	95.2	-3.3	14.7
Assesment on spending money on durable goods over the next 12 months	92.0	96.1	-2.7	4.5

The next release on this subject will be on May 22, 2023.
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EXPLANATIONS

In monthly consumer tendency survey, consumers’ assessments and expectations on financial standing and general economic situation, also their expenditure and saving tendencies are measured.

Year-on-year price growth in Czech Republic was the lowest from the last April

MuhasebeNews — Wed, 19 Apr 2023 08:10:56 +0000

Consumer prices increased by 0.1%, month-on-month. This development came mainly from higher prices in ‘food and non-alcoholic beverages’ and in ‘restaurants and hotels’. The year-on-year growth of consumer prices amounted to 15.0% in March, which was 1.7 percentage points down on February.

Month-on-month comparison

Consumer prices in March increased by 0.1%, month-on-month. In ‘food and non-alcoholic beverages’, especially prices of vegetables increased by 5.0%, pork by 2.2%, non-alcoholic beverages by 1.2% and UHT semi-skimmed milk by 6.0%. In ‘restaurants and hotels’, prices of catering services were higher by 0.9% and accommodation services by 2.5%. Price growth in ‘miscellaneous goods and services’ came mainly from higher prices of social care by 3.1%. In ‘clothing and footwear’, prices of garments were higher by 1.4%.

Month-on-month overall consumer price level decrease in March came from price drop in ‘housing, water, electricity, gas and other fuels’, where prices of natural gas were lower by 1.4%. In ‘recreation and culture’, prices of package holidays were lower by 4.5% due to the ending winter season. Price decline in ‘transport’ came mainly from lower prices of fuels and lubricants for personal transport equipment by 1.8%. In food, prices of eggs were lower by 9.9%, butter by 6.3% and cheese and curd by 1.1%, in particular.

Prices of goods in total went up by 0.1% and prices of services by 0.3%.

Year-on-year comparison

“Consumer prices moderated their year-on-year growth for second consecutive time. It amounted to 15% in March, which was the lowest value from the last April. However, most of this slowdown came from development of the last year higher comparative base. Prices in transport even fell year-on-year, mainly due to decreasing prices of fuels” noted Pavla Sediva, head of Consumer Price Statistics Unit of CZSO.

Consumer prices increased by 15.0% in March, i.e. 1.7 percentage points down on February. This slowdown¹⁾of year-on-year price growth was mainly influenced by prices in ‘transport’ and in ‘housing, water, electricity, gas and other fuels’. In ‘transport’, prices of fuels and lubricants for personal transport equipment turned from growth by 0.4% in February into decrease by 19.0% in March. In ‘housing, water, electricity, gas and other fuels’, prices of natural gas moderated their growth to 60.0% (increase by 74.3% in February). Both partly due to their month-on-month increase in March 2022.

The biggest influence on the growth of the year-on-year price level in March came again from prices in ‘housing, water, electricity, gas and other fuels’, where besides owner occupied housing costs, also prices of actual rentals²⁾ increased by 6.7%, materials and services for maintenance and repair of the dwelling by 16.4%, water supply by 16.3%, sewage collection by 30.3%, electricity by 29.6%, solid fuels by 53.7% and heat and hot water by 44.6%. Next in order of influence were prices in ‘food and non-alcoholic beverages’, where mainly prices of rice were higher by 32.9%, flour by 32.6%, pork by 34.0%, UHT semi-skimmed milk by 45.2%, eggs by 75.5%, margarine and other vegetable fats by 36.3%, vegetables by 29.9% and sugar by 97.6%. In ‘restaurants and hotels’, prices of catering services increased by 21.5% and accommodation services by 19.1%. In ‘recreation and culture’, prices of package holidays increased by 24.6%. Year-on-year price level decrease came from prices in ‘transport’ in March (drop by 0.6%).

Owner occupied housing costs (imputed rentals) were higher by 6.8% (increase by 7.7% in February) mainly due to the growth of prices of construction materials. The overall consumer price index excluding owner occupied housing costs was 116.1%, year-on-year.

Prices of goods in total and services went up (17.0% and 11.7%, respectively).

Inflation rate, i.e. the increase in the average consumer price index in the twelve months to March 2023 compared with the average CPI in the previous twelve months, amounted to 16.4% (16.2% in February).

Level of consumer price base index with base period the average of 2015 = 100, increased to 147.5% in March (147.3% in February).

Harmonized index of consumer prices (HICP)

According to preliminary calculations, the HICP in Czechia in March went up by 0.3% month-on-month and 16.5% (18.4% in February), year-on-year. According to flash estimates of Eurostat, the MUICP (Monetary Union Index of Consumer Prices) in March 2023 amounted to 6.9% year-on-year (8.5% in February), 14.8% in Slovakia and 7.8% in Germany. It was the highest in Latvia in March (17.3%). According to preliminary data of Eurostat, the year-on-year change in the average harmonized index of consumer prices (HICP) in the EU27 member states amounted to 9.9% in February (0.1 percentage points down on January). In February, the rise in prices was the highest in Hungary (25.8%) and the lowest in Luxembourg (4.8%).

Source: Czech Statistical Office
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Bulgarian inflation falls to 14.0%, the lowest level in a year

MuhasebeNews — Wed, 19 Apr 2023 08:06:57 +0000

In March 2023, the monthly inflation rate, measured by the Consumer Price Index (CPI), was 0.5% compared to the previous month, and the annual inflation rate in March 2023 compared to March 2022 was 14.0%.

In March 2023, compared to the previous month, the highest price increase was registered for Miscellaneous goods and services (+2.9%), Restaurants and hotels (+1.2%), Alcoholic beverages and tobacco (+1.1%), Furnishings, household equipment and routine maintenance of the house (+1.0%) and Food and non-alcoholic beverages (+0.9%). The decrease was recorded in the prices for Clothing and footwear (-0.8%), Transport (-0.7%), Housing, water, electricity, gas and other fuels (-0.5%) and Recreation and culture (-0.5%).

In March 2023, the monthly inflation rate, measured by the Harmonised Index of Consumer Prices (HICP), was 0.6% compared to the previous month, and the annual inflation rate in March 2023 compared to March 2022 was 12.1%.

Source: National Statistical Institute of Bulgaria
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.