In August 2023, the annual rate of inflation as measured by the RPI was 4.0 per cent, down from 4.7 per cent in July 2023, the NSO said Monday.

Price changes and effects on inflation

The highest annual inflation rates in August 2023 were registered in Food (9.3 per cent) and Housing (8.7 per cent). On the other hand, the lowest annual inflation rates were registered in Transport and communication (-2.7 per cent) and Clothing and footwear (-1.1 per cent).

In August 2023, the largest upward impact on annual inflation was registered in the Food Index (+2.00 percentage points), largely due to higher prices of take-aways. The second and third largest impacts were measured in the Housing Index (+0.69 percentage points) and the Other goods and services Index (+0.53 percentage points), mainly on account of higher prices of house maintenance services and insurances, respectively.

The downward impacts on annual inflation were registered in the Transport and communication Index (-0.59 percentage points) and the Clothing and footwear Index (-0.07 percentage points), mainly reflecting lower prices of land transport services and garments, respectively 

In August 2023, the Food Index registered the highest annual inflation rate at 9.3 per cent, of which Food excluding restaurant services and take-aways registered an annual rate of 10.2 per cent, and Restaurant services and take-aways registered an annual rate of 6.8 per cent.

The Transport and communication Index registered the lowest annual inflation rate of -2.7 per cent, of which Transport registered an annual rate of -2.4 per cent and Communication registered an annual rate of -3.8 per cent.

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