The ministry noted that prices at the pump were up 11pc for petrol and 13pc for diesel compared to a year earlier. Consumers' response to the higher prices has been sensitive, reducing demand and impeding the recovery of consumption, it added.
Assessments show spending on motor fuel is among the most significant expenditure items of households, in addition to food and healthcare, the ministry said.
It also pointed to government measures, including regulated utility prices, mandatory discounts at supermarkets, and a food price monitoring platform, that have brought inflation down.
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