This inflationary rise reflects annual price increases across various sectors, with motor fuels and food items leading the charge.

Key Inflation Drivers

Over the past 12 months, food prices have seen a notable 2.7% increase, with certain staples like sugar and flour experiencing dramatic surges of 46.3% and 12.4%, respectively. The cost of pork climbed by 10.7%, while chocolate and cocoa became 10% more expensive. Additionally, dining out became more costly, with restaurant meal prices rising by 8%.

Conversely, some food items saw price decreases, such as eggs, which dropped by 14.7%, and milk products, which fell by 8%.

Services also contributed significantly to the overall inflation, with a 9.1% increase in costs. Within this category, rents rose sharply by 11.7%, and personal care services saw a 10.3% hike. Transportation-related expenses, including motorway tolls, vehicle rentals, and parking fees, went up by 10.1%. The cost of vehicle repairs and maintenance increased by 10%, while the prices for recreational services and public entertainment tickets rose by 5.6% and 8.3%, respectively.

Clothing, footwear, alcoholic beverages, and tobacco products all saw a 4.2% price increase. Although electricity, gas, and other fuels became 4.5% cheaper overall, natural and manufactured gas prices dropped by 9.3%, while electricity costs decreased by 2.1%. On the other hand, motor fuels saw a price increase of 6%.

Monthly Inflation Jumps to 0.7%

On a month-to-month basis, consumer prices rose by 0.7% from June 2024. The increase was again primarily driven by food prices, which went up by 0.6% on average. Flour and sugar saw particularly steep monthly hikes of 38.1% and 13.9%, respectively, while edible oil and milk prices increased by 9% and 6.8%.

Motor fuels also contributed to the monthly inflation, with prices rising by 3.8%. Services saw a 1.1% overall increase, driven by a significant 12.3% rise in recreational services and a 5.0% hike in postal service costs.

Despite the general upward trend, there were some areas where prices fell. Notably, electricity, gas, and other fuels decreased by 0.8% in July, with natural and manufactured gas prices dropping by 1.6%.