Consumer prices in May drop by record high 1.8 pct

In May 2016, consumer prices decreased by a record high 1.8 percent on the year, the first time since 2000 and more than expected, mainly due to a steep fall in fuel prices, the national statistical office said on Thursday.

In April 2016, the year-on-year decrease in consumer prices was 1.7%.

Four economists polled by Hina projected that the annual decrease in May 2016 would range from 1.5 to 1.7%.

On the month, consumer prices increased 0.2% in May 2016.

Over five months in 2016, consumer prices were lower 1.5% on average than at the same time last year.

Deflation entered a third year, since in 2015 consumer prices decreased 0.5% on average and in 2014 by 0.2%.

Last update: Thu, 16/06/2016 - 12:48
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