Housing costs jump by 60 percent in four years

Annual inflation rate at ten percent

The Consumer Price Index grew by around ten percent in September on a yearly basis, according to the Central Administration of Statistics.

The CPI, which measures variations in the prices of consumer goods and services, is often used as a proxy for inflation.

Housing costs, which counts for 16 percent of the index weight, grew by 44 percent. The CAS measures the changes in the costs of housing through a survey performed in June each year. The last survey, in June 2012, showed that housing costs jumped by 60 percent from June 2008.

Prices of food and non-alcoholic beverages, which constitute 20 percent of the index, rose by about 5.6 percent. Alcoholic beverages and tobacco prices, which make up two percent of the index, went up by 19 percent.

The prices of water, electricity, gas, and other fuels were up by seven percent over the covered period. These expenses make up 9.5 percent of index weight.

Transportation costs, which constitute 12 percent of index weight, grew by four percent. Education costs rose by 7.5 percent. Spending on education makes up for seven percent of the index.

Prices of clothing and footwear, which make up six percent of the index, grew by 5.5 percent. The prices of the category of restaurants and hotels and that of recreation and amusement were up by five percent each.

Costs of communication remained flat. The only exception to the rising trend was healthcare which inched down by some two percent.