Butter nearly a quarter cheaper for consumers - October inflation stays flat at 2.0% as food prices split sharply
Inflation held steady at 2.0% in October, but consumers experienced mixed fortunes with food and services prices. While butter and edible oils saw notable drops, canned fruit prices surged.
Butter prices dropped nearly 25% compared to the same month last year, with a similar trend seen in edible oils and fats, which fell by an average of 17.7%. Olive oil and butter specifically decreased by 25.5% and 23.7% respectively. However, canned fruit prices soared by 27.5% year-on-year, bucking the trend.
Tire changes averaged 4.9% more expensive than a year ago, contributing to a 3.7% increase in vehicle maintenance and repairs. Social services costs climbed by 11.9%, with nursing and retirement homes recording an average increase of 10.3%. Overall, food and non-alcoholic beverage prices averaged 1.3% higher than in October 2023.
Despite the overall inflation rate remaining unchanged, consumers faced varied price changes in October. While some food items like butter and edible oils became cheaper, others like canned fruit saw significant price increases. Social services and nursing homes also recorded substantial cost hikes, impacting consumers' budgets.
