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.
Fresh NSO data shows that 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.
Image – NSO
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.
