A more marked increase in food prices was seen in October. In other groups, prices remain broadly stable. This price movement structure confirms the only very gradual pass-through of external cost effects into price indices and does not differ from developments in the previous 5–6 months. The above trend results from the continuing only modest rise in consumer demand, the strongly competitive market and the relatively stabilising effect of the exchange rate. As regards food prices, their year-on-year growth was due to the expected seasonal influences, a sizeable one-time rise in bakery product prices and the continuing rise in meat prices.
The price trend witnessed to date is in line with expectations. It can therefore be assumed that in the remaining months of the year, year-on-year consumer price inflation will stay roughly at the current level. The same goes for net inflation. The aforementioned price developments indicate that net inflation will be at the lower boundary of the target range at the end of 2000.