Consumer Price Index – 3rd Quarter 2019

The Consumer Price Index, which stood at 103.4 in June 2019, registered a net decrease of 0.1 point (or -0.1%) to reach 103.3 in September 2019.

The main contributors to the net decrease of 0.1 point in the CPI from June to September 2019 were:

lower prices of vegetables (-0.3 point), culinary herbs (-0.1 point), ginger (-0.1 point) and gasolene (-0.1 point);
partly mitigated by higher prices powdered milk (+0.1 point), meat (+0.1 point), air tickets (+0.2 point) and some other goods and services (+0.1 point).

The headline inflation rate for the twelve months ending September 2019 works out to 0.9%, compared to 3.5% for the twelve months ending September 2018.

The headline inflation rate excluding “Alcoholic beverages and tobacco” for the twelve months ending September 2019 works out to 1.0% compared to 3.1% for the twelve months ending September 2018.

On the basis of trends in previous years and recent price changes, the headline inflation rate for calendar year 2019 is estimated at around 0.5% compared to 3.2% for the previous year.