Consumer Price Index shows prices up by eight percent
The Consumer Price Index (CPI) for October 2012 has been released. It shows that prices went up by point eight percent over the same period last year. The biggest increase was in health, which went up by six point eight percent and trailing behind were Food and Non-Alcoholic Beverages, which went up by one point percent, Recreation and Culture by five percent as well as Miscellaneous Goods and Services went up by four point one percent. Among the goods and services contributing to these increases were: hospital accommodation, surgery, nightclub entertainment, and health and motor vehicle insurance. The average national inflation rate as of the end of October 2012 was down by one point four percent. The food index was driven by higher prices of meat products. The average price of a pound of whole chicken increased by nine point two percent, Fish and Seafood rose by five point seven percent. But vegetables declined by an average of three point five percent with cabbage, sweet peppers and tomatoes recording the most significant decreases. The cost of transportation remained the same, as higher prices for fuel and lubricants were offset by lower international airfares. In the case of fuel, the average price of premium gasoline jumped by twenty percent to thirteen dollars and one cent per gallon while diesel increased by twelve percent to eleven dollars and seventeen cents per gallon.