ECONOMY FINANCE&BANKING

Food cheaper, utilities more expensive

Food was 6.2 percent cheaper year-on-year in December 2015, while prices of non-food products advanced 1.95 percent, according to data released on Wednesday by the National Institute of Statistics.

A notable exception among foods were potatoes, with a 20pct price surge. Other food products with higher prices were vegetables, including canned ones (7.62pct up YOY) and fresh fruit (2.92pct). Most food products’ prices declined, though, especially maize (minus 12.68pct), milk cow (minus 11.73pct), canned meat (minus 11.33pct) and butter (minus 11.07pct).

The utilities led the YOY advance of tariffs, with natural gas up by 7.46pct and electricity by 5.16pct more expensive. Services cost 2.41pct more overall, with sewerage and waste collection up by 5.51pct.

Cheaper non-food products were medicines (minus 3.9pct), medical items (minus 3.77pct) and fuel (minus 2.44pct). Prices surged for tobacco and cigarettes (6.17pct), clothes (2.35pct) and footwear (2.31pct).

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