Inflation falls below 15%

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The annual inflation rate dropped to 14.96% in July this year, from 15.1% in the previous month, according to data published on Thursday by the National Institute of Statistics (INS). Oil with 52% and potatoes with 41% are at the top of the price hikes in the last year.

“Consumer prices were up 0.9% in July 2022 from June 2022. The inflation rate since the beginning of the year (July 2022 compared to December 2021) is 11.0%. The annual inflation rate in July 2022 compared to July 2021 is 15.0%. The average rate of change in consumer prices over the last 12 months (August 2021July 2022) as compared to the previous 12 months (August 2020July 2021) is 10.1%,” says the press release by the National Institute of Statistics (INS).

The Harmonised Index of Consumer Prices in July 2022 compared to June 2022 is 100.46%. The HICPbased annual inflation rate in July 2022 compared to July 2021 is 13.0%. The HICPbased average rate of change in consumer prices over the last 12 months (August 2021July 2022) as compared to the previous 12 months (August 2020July 2021) is 8.7%.

Gas more expensive in the last year

Gas has become more expensive in the last year, as the rates were 70.10% higher in July of this year compared to July 2021, according to the INS data.

In the top of the non-food goods that recorded the biggest price increases were also fuels, with a price advance of 35.63% in July 2022 compared to July 2021, and thermal energy – plus 22.98%.

The foods that rose in price the most in the reference interval were edible oil, with price increases of 51.86%, potatoes – 41.85% and flour – 32.86%.

In the services sector, air transport – 34.02%, water, sewerage – 20.96% and CFR transport – 20.92% were the most expensive. Telephone services became cheaper by 0.08%, this being the sure reduction in July of this year compared to July 2021.

From month to month, in June the most important price increases were recorded for CFR transport – 20.92%, gas by 8.16% and air transport services – 6.29%. Last month, there were food products that became cheaper, potatoes the most, by 12.32%, beans, beans and other legumes, by 0.77% and sorghum, by 0.04%. Also, INS data show that fuel tariffs were lower by 2.04% and telephone services by 0.13%

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