Rental prices rise 15 times above inflation level

Rental prices doubled, oil became almost 50 percent more expensive and prices of fruits and vegetables rose one third in 2007, according to a report released by the National Institute of Statistics (INS).

With a 100,9 percent increase year-on-year, rental prices are 15 times higher than the 6.75 percent inflation rate published by the INS.

On the other hand, medicine prices were 7 percent lower year-on-year in December 2007.

Overall, prices rose an average 6.57 percent year-on-year in December. Foodstuffs became 10 percent more expensive, while prices for services rose 8.5 percent.

The 6.57 percent annual inflation published in the INS report is in accordance to estimates of annalists questioned by Business Standard last week. Their forecast was of 6.5-6.8 percent.

Business Standard