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According to the National Department of Statistics (Dane), In November, inflation, in its monthly measurement, was -0.15 percent, that is, 25 basis points less than that of same month of 2019, when it stood at 0.10 percent.
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It should be noted that the monthly inflation registered is the lowest in a month of November, since 2013, when it was -0.22 percent.
Annual inflation was 1.49 percent (in November 2019 it was 3.84 percent) and that of the year-to-date was 1.23 percent (in November 2019 it was 3.54 percent).
The monthly behavior of Consumer Price Index (CPI) November 2020 is mainly explained, according to Dane, by the monthly variation of the clothing and footwear divisions (-3.71 percent) and education (-1.03 percent).
According to the director of Dane, Juan Daniel Oviedo, inflation registered in November is far from the projections made by analysts, who placed it in a range of between -0.03 percent and 0.22 percent. He also said that the variation in the CPI during the past month, “makes visible the impacts of the Day without VAT on the country’s household spending, particularly in the divisions of clothing and footwear, electrical appliances and household products.”
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Monthly variation
The behavior of the November CPI 2020 It is mainly explained, according to the Danish, by the variation of the divisions of clothing and footwear (-3.71 percent, the lowest monthly variation) and education (-1.03 percent) which, according to the director of the Dane, is the result of the residue in the collection of discounts and special rates in higher education enrollments and tuitions, with a view to reducing student dropouts.
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The restaurants and hotels division, On the other hand, it registered the highest monthly variation, with 0.28 percent, given the increase in people’s consumption of meals in table service and self-service establishments (0.33 percent), expenses in discotheques, bars, grills, taverns, inns, and indoor and outdoor stores (0.25 percent) and meals prepared outside the home for immediate consumption (0.19 percent). The lowest price increases were reported in payments for meals in canteens; soda and other soft drinks in table service and self-service establishments, and accommodation services in hotels, pensions and inns.
Goods and services was the second with the highest monthly variation (0.16 percent).
Running year
The year-to-date variation of inflation (that is, from January to November) was 1.23 percent, higher by -2.31 than that reported in the same period of the previous year, when it was 3.54 percent. .
This behavior was mainly explained by the variation in the divisions of food and non-alcoholic beverages and accommodation, water, electricity, gas and other fuels. The one of Health registered a variation of 4.83 percent, the highest, largely due to the increases registered in pharmaceutical and dermatological products, medical elements and implements and laboratory tests for individuals.
Annual variation
The annual variation, on the other hand, was 1.49 percent and its behavior is mainly explained by the annual variation of the food and non-alcoholic beverages and accommodation, water, electricity, gas and other fuels divisions.
Health reported the highest annual variation, with 5.01 percent, due to the higher price increases in pharmaceutical and dermatological products, medical elements and implements and laboratory tests for individuals.
The restaurant and hotel division registered an annual variation of 4.09 percent, the second highest. In November, the highest price increases were registered in payment for food in canteens, meals in table service and self-service establishments and meals prepared outside the home for immediate consumption.
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The clothing and footwear division registered an annual variation of -6.62 percent (the lowest). The largest price decreases were reported in the subclasses of clothing and footwear, for women and for men. The largest price increases were recorded in uniforms, washing and ironing of clothing and other clothing items and accessories for men and women, including clothing items for adults and babies and materials.
In general, in November the largest contributions to the annual variation in the twelve divisions of the CPI they were recorded in meals in table service and self-service establishments, with 0.26 percentage points; urban transport, with 0.20 percentage points, and imputed rent, with 0.18 percentage points.
The subclasses with the lowest contributions were vehicle fuels, with -0.36 percentage points; enrollment and enrollment in technical, technological and university careers, with -0.31 percentage points, and clothing for women, with -0.12 percentage points.
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