The consumer price index inched up 0.5% in August 2023 compared to July 2023.
Food prices grew by 11.8%, services prices climbed 11.7%, while prices of non-food items were 7% higher in August 2023 compared to August 2022.
The highest food prices in August 2023 compared to August 2022 were recorded by sugar (+30%), margarine (+20%), eggs (+19%), fish (+18%), while the edible oil and flour saw price decreases of 22% and 12%, respectively.
In terms of services, the highest price increases in August 2023 vs August 2022 were recorded by plane tickets and water supply, sewage collection and sanitation (+19%).
The highest price hikes in non-food items in August 2023 compared to August 2022 were recorded by heat energy (+23%), detergents (+22%), and medicines (+15%), while electricity and fuel prices saw a 3% decline.
The inflation rate since the beginning of the year (August 2023 compared to December 2022) is 4.9%
The average rate of change in consumer prices over the last 12 months (September 2022-August 2023) as compared to the previous 12 months (September 2021-August 2022) is 13.2%.
The Harmonised Index of Consumer Prices in August 2023 compared to July 2023 is 100.78%.
The HICP-based annual inflation rate in August 2023 compared to August 2022 is 9.3%.
The HICP-based average rate of change in consumer prices over the last 12 months (September 2022-August 2023) as compared to the previous 12 months (September 2021-August 2022) is 11.8%.
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, 10.3% in June 2023, and to 9.4% in July 2023.