January 11, 2016
In December, consumer prices decreased 0.3% over the previous month, which contrasted the 0.3% increase tallied in November. According to the statistical institute, the result was driven by a drop in 11 of the 12 components of the index, with the food products and non-alcoholic beverages component tallying the sharpest drop.
In annual terms, consumer prices fell 0.1% in December, which was a smaller fall than the 0.4% decrease seen in November. Despite the drop, December’s print marks a thirteen-month high. Meanwhile, harmonized consumer prices (based on the Harmonized Index of Consumer Prices) declined 0.3% year-on-year in December (November: -0.5% year-on-year). Lastly, annual average HICP prices fell 0.7% in December, matching November’s result. December’s result is also the lowest figure since May 2004.