The annual inflation rate was 5.1% in August, down from 5.42% in July, according to data from the National Institute of Statistics (INS), meaning the price have not gone down, but that there has been a less growth.
For the end of this quarter, the central bank, BNR, estimates inflation of 4.2%, with an uncertainty interval of 0.5 percentage points.
Food went up by 4.25%, non-food products by 4.35%, and services by 8.6%. On the food side, the price of potatoes increased by 18.7%, canned fruit by 9.5%, wine and beer by more than 7% (brandy by 3.1%), sheep’s cheese by 5.3%, and other bakery specialties with 4.6 and 5.2% respectively, cow’s milk with 4%, as well as fish.
There were also reductions, namely by 16.5% for flour, 14.9% for sorghum, 8.8% for oil, 12% for butter, 5.43% for sugar.
In terms of non-food goods we observe increases of over 16% for detergents, 9.6% for books, 9% for hygiene and cosmetics products, 8% for cigarettes, 6% for cars and spare parts, 6% for clothes and footwear.
In terms of services, air transport services went up by 22%, water, sewage and sanitation services by 15%, rents by 10%, medical care and restaurant food by 10%, car repairs by 8% , also with 8% and CFR.
According to the INS, the inflation rate since the beginning of the year (August 2024 compared to December 2023) was 3.4%. The average rate of change in consumer prices in the last 12 months (September 2023 – August 2024) compared to the previous 12 months (September 2022 – August 2023) was 6.5%.
Also, the annual inflation rate in August 2024 compared to August 2023 calculated on the basis of the harmonized consumer price index (HICP) was 5.3%.