The consumer price index inched up 0.26% in December 2023 compared to November 2023.
Food prices grew by 5%, services prices climbed 11.2%, while prices of non-food items were 5.5% higher in December 2023 compared with December 2022.
In December 2023 compared with December 2022, the highest food prices were recorded by fresh fish (+14%), beer (+14%), fruit and beef (+11%), sheep cheese (+10%), and potatoes (+9%). The biggest price drops were recorded by edible oil (27%), flour (26%), maize flour (20%), and margarine (11%).
In December 2023 compared with December 2022, the highest price hikes in non-food items were recorded by detergents (+23%), cosmetic items and medicines (+15%), books, newspapers and magazines (+13%), footwear and knitwear (+11%). Instead, the price of electricity fell by 15%.
In terms of services, the highest price increases were recorded by water supply, sewage collection and sanitation (+20%), postal services (+16%) and medical care (+15%). Statistical data also show an average increase of 10% for rental rates and plane tickets In December 2023 compared with December 2022.
The average rate of change in consumer prices over the last 12 months (January 2023-December 2023) as compared to the previous 12 months (January 2022 – December 2022) is 10.4%.
The Harmonised Index of Consumer Prices (HICP) in December 2023 compared to November 2023 is 100.22%.
The HICP-based annual inflation rate in December 2023 compared to December 2022 is 7%.
The HICP-based average rate of change in consumer prices over the last 12 months (January 2023 – December 2023) as compared to the previous 12 months (January 2022 – December 2022) is 9.7%.