February 3, 2016

In December, consumer prices rose 0.41% over the previous month, which contrasted the 0.35% decrease observed in November and marked the first increase after two consecutive monthly drops. According to the National Bureau of Statistics, December’s figure mainly reflected higher prices for transport as well as for food and soft drinks.



Inflation inched up from 3.5% in November to 3.6% in December. Annual average inflation inched up from 4.0% in November to 4.1% in December.

FocusEconomics Consensus Forecast participants expect inflation to average 3.9% in 2016, which is unchanged over last month’s projection. For 2017, the panel sees inflation easing to 3.4%.