In November, consumer prices increased by 0.93%. This is the lowest inflation rate for the last month of autumn since at least 2020, according to the Statistics Agency.
Since the beginning of the year, prices have risen by 8.7%, significantly exceeding last year's level. However, compared to 2022, the growth over eleven months has slowed by more than 2%.
The annual inflation rate at the end of November was 10.02%. This is 1.26% higher than in 2023, but lower than in previous years. The Central Bank reported that it expects inflation to be around 9.5%.
Food prices increased by 1% over the month, showing a slight slowdown compared to October. Grain products became cheaper by 1.2%, while sugar and confectionery items dropped by 0.7%. At the same time, due to seasonal factors, vegetable prices rose by 9%, and fats and oils increased by 2.7%.
Tomato prices surged by 72% in November, cucumbers by 42%, and bell peppers by 28%. On the other hand, lemon prices fell by nearly 15%, and carrots by 6%.
Over the year, food inflation reached 2%, decreasing fivefold compared to the same figure in November 2023. Potatoes became a third more expensive, meat prices rose by over 10%, and seafood by almost 6%, while fruits and nuts decreased in price by 14.6%.
The growth rate of prices for non-food goods accelerated to 1% for the month, while the annual rate was 8.3%. Clothing prices rose by 1.1% in November (5.9% for the year), footwear by 1.3% (5.7%), and furniture by 0.6% (5.6%).
Medications increased in price by 0.7%, adding a quarter to their cost since the beginning of the year. Computers also showed the same monthly price growth (3.5% for the year), while phone prices decreased by 0.3% in November, despite a 1.2% increase since the start of the year.
Gasoline prices rose by 4.7% over the last month and by 10% over the year. The price increase for propane accelerated again—11% and 53%, respectively.
In the services sector, monthly inflation was 0.8%, while annual inflation was 27.8%. Prices in the public catering sector increased by 1.3% (11% since the beginning of the year), and in hotels by 0.1% (17.9% for the year). Rent prices rose by 0.5% over the month with an annual increase of 14.3%.
Railway tickets decreased by 0.3% over the month, while airfare dropped by 3%. Since the beginning of the year, price increases were 13.3% and 3.3%, respectively.
Earlier, Spot reported that the Central Bank allows for a potential reduction of the inflation target below 5% in the future.