Deflation in September 0.5% y/y: GUS

Deflation in September stood at 0.5 percent y/y, while there was no m/m change, the Central Statistical Office (GUS) reported on Tuesday. In the first three quarters of 2016, prices fell 0.9 percent compared to the same period in 2015.

GUS also indicated that prices of consumer goods and services in September 2016 remained on average at a level similar to that recorded in August (the prices of goods grew by 0.1 percent while prices of services fell by 0.3 percent).

Analysts at GUS noted that price movements were varied among groups of consumer goods and services. The biggest impact on prices was due to higher prices of transport (+1.1 percent), clothes and footwear (+0.9 percent), and housing (+0.1 percent), and lower prices of recreation and culture (-1.4 percent), healthcare (-0.9 percent), and food (0.2 percent).