Inflation Surges Above 5% in November Due to Rising Energy Bills

The National Institute of Statistics calculated an average price increase of +5.11% in November compared to the same month last year, a significant advance for a single month, after inflation had dropped to 4.67% in October.

Although mill products, fruits and some vegetables have become cheaper, they still remain up to 10% more expensive than a year ago, due to price increases in previous months.

The increasing inflation in November is due to an average increase of +3.4% in electricity bills, although, paradoxically, they are lower than in 2023. Centralized thermal energy is 5% more expensive than a year ago, although official statistics record a -5% reduction in tariffs in November 2024.

Since the beginning of this year, food prices have increased on average by +4.8%, non-food goods by +4%, and services by almost +7%. The prices of vegetables and fruits (10-12%), detergents (11%) and cigarettes (10%) have increased the most, while, among services, water and sewage (11%), rents (10%), restaurants (9%) and air transport (12%) have increased in price.

At the same time, courier and postal services have become the most expensive, and the share of products/services that have become more expensive than average exceeds 60% of the consumer basket.