The consumer price index inched up 0.15% in July 2023 compared to June 2023.
The consumer price index has dropped constantly over the last months, from a record high of 16.8% in November 2022. The annual inflation rate was 15.1% in January 2023, climbed to 15.5% in February 2023, but fell to 14.5% in March 2023, 11.2% in April 2023, 10.6% in May 2023 and to 10.3% in June 2023.
Food prices grew by 16.2%, services prices climbed 11.6%, while prices of non-food items were 4.2% higher in July 2023 compared to July 2022.
The highest food prices in July 2023 compared to July 2022 were recorded by sugar (+51%), potatoes (+36%), eggs (+27%), margarine and butter (+25%), cheese (+23%), vegetables and canned food (22%).
The highest price hikes in non-food items in July 2023 compared to July 2022 were recorded by heat energy (+23%), detergents (+19%), cosmetic items (+16.4%), books, newspapers and magazines (14%).
In terms of services, the highest price increases in July 2023 vs July 2022 were recorded by plane tickets (+44%), water supply, sewage collection and sanitation (+20%), hygiene, cosmetic and medical items (+17%).
The inflation rate since the beginning of the year (July 2023 compared to December 2022) is 4.4%.
The average rate of change in consumer prices over the last 12 months (August 2022-July 2023) as compared to the previous 12 months (August 2021- July 2022) is 13.7%.
The Harmonised Index of Consumer Prices in July 2023 compared to June 2023 is 100.15%.
The HICP-based annual inflation rate in July 2023 compared to July 2022 is 8.9%.
The HICP-based average rate of change in consumer prices over the last 12 months (August 2022-July 2023) as compared to the previous 12 months (August 2021-July 2022) is 12.1%.