Editorial Staff
4 months ago

Editorial Staff
4 months ago

You are living through the highest prices in years

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According to the latest data released on November 15, 2023, the inflation rate for the twelve months ending September 2023 rose by 5.6%.

This increase was mainly influenced by the rise in the indexes for Communication, Transport, and Food and Non-Alcoholic Beverages.

Among these, the index for Communication saw the highest increase of 13.1%.

The index for Food also increased by 4.5% over the past twelve months. This increase was largely attributed to the rise in the index for Bread and Cereals, which saw an increase of 8.2% and accounted for almost 30% of the food increase.

The increase in Bread and Cereals was primarily due to the rise in the indexes for Other Cereals, Flour, and Other Products, and Other Bakery Products.

The index for Vegetables rose by 4.3%, with the index for Frozen Preserved or Processed Vegetables and Vegetable-based Products rising by 9.0%.

On the other hand, the index for Meat and Meat Products declined by 5.0%, except for the Pork index which increased by 13.4%.

The remaining subcategories’ declines ranged from Delicatessen and Other Meat Preparations to Lamb, Mutton, and Goat.

The index for All Items Less Food and Energy showed an increase of 6.9% over the past twelve months.

The four main contributors to the increase were the indexes for Communication, Restaurants and Hotels, Miscellaneous Goods and Services.

Regarding the monthly consumer price index, it declined by 0.9% for the month ending September 2023.

The index for Food increased by 2.5% over the last month. Six of nine food sub-categories posted increases over the one month, with Fruits showing the highest increase of 12.0%.

In contrast, the index for Meat and Meat Products declined by 1.9%.

The index for Non-Alcoholic Beverages rose by 1.4% in September, attributed to the rise in the index for Mineral Water and Coffee, Tea, and Cocoa.

The index for All Items Less Food and Energy fell by 1.8% in September, mainly due to the 14.3% decline in the index for Transport Services.

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