Bosnia's CPI deflation deepens to 1.2% y/y in Dec 2013 on falling food costs

By bne IntelliNews January 29, 2014

Bosnia's consumer price index (CPI) fell 1.2% y/y in December 2013, after dropping 0.9% y/y the previous month, dragged down by falling food, transport, clothing and footwear and health costs, the country's statistics office said. In monthly terms, the CPI edged down 0.3% in December.

The average CPI inflation in 2013 braked to 0.2% from 1.2% a year ago due to slower growth of food, housing and furnishing charges and falling transport costs.

Food and non-alcoholic beverages prices deflation deepened to 3.8% y/y in December from 3.3% y/y in November. Health prices contracted 1.6% y/y in December after retreating 1.9% y/y in November. Transport charges dropped for a fifth straight month in December falling by 0.6% y/y, after a 0.9% y/y decrease in November. Clothing and footwear costs went down 1.2% y/y in December after recording 0.0% y/y growth the month before, likewise helping push the overall CPI index down.

Alcoholic beverages and tobacco charges rose 6.2% y/y in December, following a 6.4% y/y hike in November.

Bosnia’s average CPI inflation is expected to remain moderate at 1.8% in 2014, reflecting constrained consumer demand and IMF-enforced austerity measures under the country's EUR 390mn deal with the fund.

  Dec-11 Dec -12 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 
TOTAL 3.1 1.8 0.8 -0.2 -0.5 -0.9 -0.9 -1.2
Food and beverages 3.6 2.5 1.0 0.4 -1.5 -2.7 -3.3 -3.8
Tobacco and alcoholic beverages   8.9 9.9 6.4 6.4 6.2 6.4 6.4 6.2
Clothing and footwear -6.6 -6.2 -2.7 -12.0 -2.4 -2.0 0.0 -1.2
Housing, water, electricity, gas and other fuels 3.3 1.6 0.7 1.2 1.2 0.6 0.2 0.0
Household furnishings 1.5 0.4 0.5 0.3 0.1 -0.3 0.0 -0.4
Health -0.7 -0.7 -1.8 -1.6 -1.8 -2.0 -1.9 -1.6
Transport 6.9 2.5 0.1 -2.1 -3.0 -2.0 -0.9 -0.6
Communications 5.3 1.5 0.2 0.3 0.3 0.3 0.3 0.3
Recreation and  culture 0.4 0.7 1.7 1.4 0.7 0.8 0.7 0.7
Education 0.2 0.8 1.8 1.8 1.7 0.8 0.8 0.8
Restaurants and hotels 2.9 0.5 0.6 0.6 0.4 0.3 0.2 0.2
Other services and goods 0.3 1.3 0.0 0.0 -0.1 -0.1 0.1 0.1
Source: Institute of statistics                
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