In January, the politically sensitive food prices increased by 2.7 percent (from 2.4 percent in the prior month) while non-food cost rose 2.5 percent (from 2.0 percent). Cost of consumer goods gained 2.2 percent (from 1.8 percent) and those of services went up 3.2 percent (from 2.5 percent).
Among food, prices rose at a faster pace for: pork (7.1 percent from 6.2 percent in a month earlier) and fresh fruits (4.8 percent from 3.2 percent). Cost went up less than in the prior month for: fresh vegetables 1.6 percent from +2.6 percent). In contrast, prices fell for: eggs (-9.1 percent from -4.5 percent), milk (-0.5 percent from -0.2 percent) and tobaco (-0.2 percent from -0.2 percent).
For non-food categories, upward prices pressure came from all components, including: clothing (+1.1 percent from +1.1 percent); rent, fuel & utilities (2.3 percent from 2.1 percent), household goods and services (0.6 percent from 0.4 percent), transport & communication (2.3 percent from 0.9 percent); education, culture & recreation (3.3 percent from 2.3 percent), healthcare (5.0 from 4.6 percent) and other goods and services (4.8 percent from 4.0 percent).
On a monthly basis, consumer prices rose 1.0 percent, following a 0.2 percent rise in a month earlier and above market consensus of a 0.7 percent gain. It was the third straight month of increase and the highest since February 2016.
The producer prices index rose 6.9 percent year-on-year in January of 2017, following a 5.5 percent rise in December and beating market consensus of a 6.3 percent gain. It was the fifth straight month of increase and the fastest since August 2011, as cost went up for most categories, including: means of production (9.1 percent from 7.2 percent in December), namely extraction (31.0 percent), raw material (12.9 percent) and processing (5.9 percent); consumer goods (0.8 percent from 0.8 percent), namely food productions (1.3 percent), clothing (1.1 percent) and daily use goods (1.5 percent). In contrast, prices of consumer durable declined by 0.6 percent (from -0.8 percent in December).