Consumer inflation rate was 4.2% year-on-year in July 2024, the Central Bureau of Statistics reported. Compared to the previous month, prices of goods and services rose by 1.4%.
“Prices of consumer goods and services during July 2024 compared to the same month last year increased by 4.2 percent (with prices of services increasing by 6.2 percent and goods by 3.5 percent). Compared to the previous month, prices of goods and services increased. We read in the announcement of the Central Agency for Public Mobilization and Statistics that prices of goods increased by 1.4 percent (including goods by 1.6 percent and services by 1.1 percent).
Inflation is on the rise. The Central Bureau of Statistics confirms
In July this year, compared with the previous month, the biggest impact on the overall CPI was the rise in housing prices (by 5.7%), entertainment and culture (by 2.1%), and restaurants and hotels (by 2.1%). By 0.6%), which led to an increase in the index by 1.42 points, respectively. percent 0.13 points and 0.04 points, and the decline in food prices (by 0.5%) and clothing and footwear (by 3.1%) led to a decrease in the index by 0.14 points, respectively. percent and 0.12 points.
“Compared to the same month of the previous year, the rise in prices of housing (by 7.4%), food (by 3.1%), restaurants and hotels (by 7.6%) led to an increase in this index by 1, respectively 86 percentage points, 0.77 percentage points. And 0.43 percentage points. The decrease in prices of clothing and footwear (by 1.0 percentage points) – we read.
The average market forecast in July was 4.2%. Year-on-year, month-on-month: 1.4% Earlier, in a preliminary estimate of the data, the Central Statistics Office reported that inflation was 4.2% year-on-year in July this year (compared to 2.6% year-on-year in June).
Grocery prices continue to rise
The report by UCE Research and WSB Merito University shows that the dynamics of price increases in stores will continue to increase.
– This observation is consistent with the general rise in inflation recorded in recent months. These changes do not come as a particular surprise to economists. It is clear that we can already talk about a slow but clear reversal of the trend since April, and the main reason for this was the unfreezing of VAT rates on food, said Dr. Tomasz Kopycianski of WSB Merito University, ahead of the publication of the latest central report, according to the statistics office.
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