In July 2023 the Consumer Price Index decreased by 0.04% compared to the previous month, while the annual inflation rate amounted to 0.3%. With regard to the annual core inflation1, the prices increased by 3.2%, while the annual core inflation without tobacco amounted to 3.1%, reads the report of GeoStat.

The monthly inflation rate was mainly influenced by price changes for the following groups:

Furnishings, household equipment and maintenance: the prices for the group decreased by 2.3%, contributing -0.11% to the overall monthly inflation rate. The prices decreased for the following subgroups: goods and services for routine household maintenance (-4.5%), household textiles (-1.9%), glassware, tableware and household utensils (-1.0%). At the same time, prices increased for subgroups: furniture and furnishings, carpets and other floor coverings (4.9%), tools and equipment for house and garden (1.3%);

Clothing and footwear: the prices decreased by 2.0%, contributing -0.09% to the overall monthly inflation rate. The prices went down for both footwear (-3.9%) and clothing (-1.3%);

Food and non-alcoholic beverages: the prices for the group decreased by 0.2%, contributing -0.09% to the overall monthly inflation rate. The prices mainly decreased for the following subgroups: oils and fats (-2.8%), fish (-1.8%), milk, cheese and eggs (-1.0%). Prices increased for fruit and grapes (3.9%);

Transport: the prices for the group increased by 1.8%, contributing 0.22% to the overall index. Within the group the prices increased for the following subgroups: operation of personal transport equipment (2.5%), purchase of vehicles (1.0%) and transport services (0.7%).

The annual inflation rate was mainly influenced by price changes for the following groups:

Miscellaneous goods and services: the prices for the group increased by 11.1%, contributing 0.59% to the overall index. Within the group, prices were higher for following subgroups: financial services n.e.c. (27.9%), personal care (9.0%);

Housing, water, electricity, gas and other fuels: the prices for the group posted a 4.9% increase, which contributed 0.51% to the annual inflation rate. The prices were higher for the following subgroups: maintenance and repair of the dwelling (12.3%), actual rentals for housing (10.3%);

Alcoholic beverages and tobacco: the prices increased by 6.3%, contributing 0.43% to the overall index. Within the group, the prices were higher for both alcoholic beverages (7.5%) and tobacco (5.0%);

Transport: the prices for the group decreased by 12.1%, contributing -1.53% to the overall index. Within the group the prices decreased for operation of personal transport equipment (-18.6%). Prices increased for transport services (3.8%);

Health: the prices for the group decreased by 6.9%, with the relevant contribution of -0.67% to the annual inflation rate. Within the group, the prices were lower for medical products, appliances and equipment (-17.3%). At the same time, prices increased for outpatient services (12.5%) and hospital services (6.4%).