Inflation down

Education costs rose significantly

The Consultation and Research Institute (CRI) issued, last week, its average consumer price index (CPI) up to December 2013. It showed a rise of 2.64 percent from December 2012. This percentage was the lowest in annual average inflation, comparatively to at least the previous eight years. It was close to the 2009 rate, which was 2.8 percent. The Central Administration of Statistics (CAS) has also published its inflation rate for the same period, showing an even lower rate change of CPI, to 1.1 percent, year-on-year. These low rates resulted from the recession in business activity, last year. Prices of oil have also been more or less steady.

The CRI report said that prices have increased in six out of the nine CPI categories. Apparel witnessed the most significant rise, with an annual increase of 23 percent. According to CRI researcher, Alexandre Ammar, “demand on the footwear subcategory has increased the figures of apparel prices. But this percentage has no significant impact on the total CPI because its weight represents only seven percent.” According to CAS figures, alcoholic beverages and tobacco are the category that witnessed the highest rise, of 12 percent. “This category shows a progress in prices since 2007, mainly because of the continuous hike in tobacco prices, and tobacco products are a necessary item for a lot of consumers,” according to a CAS researcher. Education was the second category in terms of change, with a seven percent rise. “The large number of Syrian students entering schools and universities is the main driver of this rise,” said the CAS researcher.

The prices of other items have decreased, including transportation and telecommunications, and durable consumer goods.