The Consumer Price Index, which stood at 102.8 in June 2018, registered a net decrease of 0.8 point (or -0.8%) to reach 102.0 in September 2018. The main contributors to the net decrease of 0.8 point in the CPI from June to September 2018 were: vegetables (-0.8 point), traders’ rice (-0.1 point), cooking gas (-0.1 point), gasolene (-0.1 point) and air tickets (-0.1 point);
partly offset by interest rates on housing loan, meat, prepared foods and some other goods and services, which each accounted for +0.1 point.
The headline inflation rate for the twelve months ending September 2018 works out to 3.5%, compared to 3.2% for the twelve months ending September 2017. The headline inflation rate excluding “Alcoholic beverages and tobacco” for the twelve months ending September 2018 works out to 3.1% compared to 2.0% for the twelve months ending September 2017.
On the basis of trends in previous years and recent price changes, the headline inflation rate for calendar year 2018 is forecasted at around 3.3%.