Inflation drops again in August – At 1.3%, transport hits prices hard, food continues to rise

The annual inflation rate continued to decline throughout August, dropping to 1.3%. In July, the consumer price index was fixed at 1.4%, in June at 1.8% and in May at 2.1%. Newly released data from the Institute of Statistics show that the downward trend in consumer prices continues to be further emphasized, following a significantly increasing trajectory, following the outbreak of the pandemic and the economic crisis that accompanied it.

According to instat, in monthly terms meanwhile, August records an increase in consumer prices by 0.2%, compared to July this year. The grouping of non-alcoholic foods and beverages is the one with the highest annual growth during August, at 3.1%, according to Instat data. This is followed by the grouping of furniture and home appliances with 1.9%, as well as rent, energy, water or fuels with 1.5% increase during August. Compared to July, the price increase of these categories is almost the same. Transport is the category that had the largest impact on the inflation rate during August, contributing almost 0.4 percentage points.

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