Consumer price index up 4.12% in seven months

Surging petrol prices, high demand for power, and adjusted health insurance premium pushed up the CPI in July to 0.48% as compared to the previous month.

Among the 11 main groups of consumer goods and services, 10 saw price hikes compared to the previous month, while postal and telecommunications services remained unchanged.

The group of medicine and medical services recorded the highest increase of 8.13%, followed by education with price climbing by 8% as a result of higher tuition fees in several localities during the 2023-2024 academic year.

Other goods and services grew 6.93%, with the fees of notary, insurance and other services expanding 17.86% and personal services 6.5%.

The group of transport recorded an increase of 4.4%, and that of food and catering services was up 4.27%.

Also in the month, domestic gold prices fell 0.12% as compared to June, while rising by 18.11% to December last year, and 29.39% year-on-year.

The GSO also said that core inflation in July soared 0.36% month-on-month, and 2.61% against the same time last year. On average, the January-July core inflation grew by 2.73% year-on-year.