| Inflation rises sharply in June |
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| Friday,July 18,2008 Posted: 17:06 BJT(0906 GMT) |
| From:BoB Article type:Reproduced |
Headline inflation in June, as measured by the Consumer Price Index (CPI), was 14.5 percent, a large increase of 2.4 percent from 12.1 percent in May. As in previous months the higher inflation was mainly a result of increased inflation in transport costs, which rose from 25.8 percent to 35.6 percent. In this category, the components operation of personal transport (from 42.0 percent to 56.1 percent) and transport services (from -0.2 percent to 16.6 percent) both rose sharply following increases in fuel prices and the associated rise in public transport fares. In addition, significant increases were recorded in the annual rate of prices increase in several other areas, including alcoholic beverages and tobacco (from 7.6 percent to 8.2 percent), clothing and footwear (from -1.1 percent to 0.5 percent), housing, water, electricity, gas and other fuels (from 8.1 percent to 10.4 percent), furnishing and household equipment (from 3.1 percent to 4.4 percent) recreation and culture (from -0.4 to 0.4 percent) and restaurants and hotels (from 11.6 percent to 13.0 percent). However, food price inflation, although high, remained broadly stable, easing slightly from 18.5 percent to 18.2 percent. Inflation for tradeable goods and services was 17.5 percent, a rise of 2.6 percent from 14.9 percent in May that continues to be driven by rising prices for imported tradeables. Non-tradeable goods and services inflation rose too, from 5.7 percent to 7.3 percent.
Core inflation rose under both the trimmed mean (from 11.0 percent to 12.5 percent) and the exclusion of administered prices (from 9.1 percent to 9.8 percent) measures.
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