Consumer prices rose by an average of 8.3% in February. This is the highest inflation rate since August 2007. Compared to January, prices increased by 1.1%. Core inflation rose 8.1% yoy.
Year-on-year, fuel and groceries are the primary price drivers, although the government has capped gas station prices since mid-November 2021 and selected staple foods since February. However, food prices increased by 2.1% compared to January, including bread by 7%, pasta and margarine by 6.5%, sausages by almost 6% and fresh fruit and vegetables by 5.5%. Year-on-year, groceries are on average 11.3% more expensive (e.g. cheese and baked goods +18%, flour +17.5%, butter +16.5% and dairy products +15.5%). Furniture rose in price more than 15%, used cars by 10%, TV sets by 8.5% and new cars by 7.5% Tobacco goods increased by 10%, services by 5.5%.