Annual inflation declined by 1%, now stands at 17.6%

Annual inflation in October declined by 1.1%, according to the National Statistical Institute.

Its level was 17.6% against 18.7% in September.

In October 2022, compared to the previous month, the largest price increase was in the groups:

• Clothing and footwear (+7.0%)
• Entertainment & Culture (+2.7%)
• Food and non-alcoholic beverages (+2.3%)

Price decreases were recorded in the groups:

• Housing
• Water
• Electricity
• Gas and other fuels (-2.1%)
• Transport (-1.4%) and Communications (-0.1%)

Year-to-date inflation (October 2022 compared to December 2021) is 15.0%.

According to the small basket price index, October 2022 saw a 1.9% month-on-month increase and a 19.7% year-to-date (October 2022 compared to December 2021) increase.

In October 2022, the prices of goods and services in the small basket for the lowest income 20% of households changed from the previous month as follows:

• Non-food goods - 3% increase
• Food products - increase of 2%
• Services - 0.1% increase