Inflation has gone up from 1.99 % to 2.17 %

Consumer price index of February 2019

• Inflation increases from 1.99 % to 2.17 % in February.
• The consumer price index this month increases by 0.35 point or 0.32 %.
• Inflation based on the health index has increased to 2.10 %, up from 2.00 %.
• The smoothed health index stood at 106.38 points in February.
• The main upward pressure in February came from motor fuels, travels abroad and city trips, the purchase of vehicles, flowers and plants, meat, holiday villages, newspapers and periodicals and vegetables. However, confectionery, natural gas and bread and cereals have had a decreasing effect on the index.

The consumer price index was running at 108,52 points in February 2019. It has increased by 0.35 point over the month. Inflation has gone up to 2.17 % from 1.99 %. The health index has gained 0.28 point to 108.78 points. Inflation based on the health index has gone up from 2.00 % to 2.10 %. The main upward pressure this month came from motor fuels, travels abroad and city trips, the purchase of vehicles, flowers and plants, meat, holiday villages, newspapers and periodicals and vegetables. These increases were mainly offset by price decreases for confectionery, natural gas and bread and cereals.

The consumer price index rose by 0.35 point or 0.32 % to 108.52 points in February 2019, compared to 108.17 points in January 2019 (2013=100).

The health index went up by 0.28 point to 108.78 points in February, compared to 108.50 points in January. The smoothed health index stood at 106.38 points in February. The central index for public service and social benefits, set at 107.20 points, has therefore not been reached. The last time the central index was exceeded was in August 2018.

Products with the largest increasing effect in February were motor fuels, travels abroad and city trips, the purchase of vehicles, flowers and plants, meat, holiday villages, newspapers and periodicals and vegetables. Most of the downward pressure came from confectionery, natural gas and bread and cereals. The most important trends this month are:

Motor fuels have become 2.3 % more expensive compared to last month. Travels abroad and city trips were on average 2.6 % more expensive than last month. Prices for the purchase of vehicles have increased by 0.5 % on average. Prices for flowers and plants were up by 6.1 %. As every year in February, higher prices were registered especially for roses due to Valentine's Day. Prices for meat have increased on average by 0.7 %. Prices for stays in holiday villages increased on average by 3.4 % in February. Newspapers and periodicals were on average 4.2 % more expensive than last month. Prices for vegetables have increased on average by 1.0 %.

Confectionery is on average 2.6 % less expensive compared to the previous month. Natural gas has become on average 1.1 % less expensive. Prices for bread and cereals have decreased by 0.6 % compared to the previous month.

Inflation now stands at 2.17 % compared to 1.99 % in January and 2.34 % in December. Inflation based on the health index amounted to 2.10 % this month compared to 2.00 % in January and 2.17 % in December. Inflation without energy has gone up to 1.60 % in February compared to 1.46 % last month and 1.59 % in December. Core inflation, which does not take into account price evolutions of energy products and unprocessed food, stands at 1.58 % in February, compared to 1.43 % in January and 1.62 % in December.

Food inflation now stands at 1.50 % compared to 1.43 % last month and 1.56 % in December. Fresh fruit now costs 2.7 % less than in February 2018. Fresh vegetables prices are on the rise: 6.2 % on an annual basis. Fish and shellfish are 2.5 % more expensive than a year ago. Prices have increased by 0.8 % for non-alcoholic beverages and by 1.9 % for alcoholic beverages. Tobacco prices have gone up by 5.9 % compared to February last year. Energy inflation now stands at 7.14 %, compared to 6.63 % in January and 8.85 % in December. Electricity is now 8.2 % more expensive than a year ago. Natural gas is 5.6 % more expensive than in February last year. Prices for domestic heating oil, calculated based on a smoothed 12-month moving average, have increased by 17.3 % in one year. Motor fuels are 3.1 % more expensive than last year. Inflation for services has gone up to 1.93 % from 1.75 %. Inflation for rents has increased and now stands at 1.03 %, compared to 0.95 % in January.

The following products and services have registered the sharpest price increases compared to last year in February:

The following products and services have registered the sharpest price decreases compared to last year in February:

The main group with the largest upward effect on inflation in February was "housing, water, energy" with an effect on inflation of 0.45 percentage point. The largest downward effect was measured for "food and non-alcoholic beverages" (-0.14 percentage point).

The main group with the largest contribution to inflation is "housing, water and energy" with 0.76 percentage point. The lowest contribution to inflation was registered by the main groups "communication" and "education", with 0.01 percentage point.