Inflation in July rose 10.9% year-on-year, up 8.23% in first eight months

Inflation increased by 10.9 per cent year on year in July driven by hikes in electricity, which rose 61.7 per cent and fuel 44.1 per cent during the period, the statistical services announced on Thursday.

For the month of July, the Consumer Price Index (CPI) increased by 1.39 units and reached 113.63 units compared to 112.24 units in June 2022.

In July 2022, the inflation increased by 10.9 per cent over July 2021.

For the period January – July 2022, the CPI increased by 8.2 per cent compared with the corresponding period of the previous year.

“The largest changes when compared to the index of July 2021 were recorded in electricity (61.7 per cent) and in petroleum products (44.1 per cent,” the announcement said.

In comparison to June, the index the largest change was monitored in electricity (16.7 per cent) in July, it added.

Compared to July 2021, the largest changes were monitored in the categories housing, water, electricity, gas and other fuels (29.2 per cent) and transport (25.3 per cent).

In comparison to the CPI of the previous month, the largest reduction was noted in clothing and footwear (-10.2 per cent) in July.

For the period January – July 2022, compared to the corresponding period of the previous year, the largest changes were recorded in housing, water, electricity, gas and other fuels (20.1 per cent) and transport (18.7 per cent).