Rising inflation/ Basic basket and housing costs trending upwards

The latest data published by the Institute of Statistics for June confirm a worrying trend of rising cost of living, with the inflation rate rising to 3.2%, compared to 2.4% in the same month a year ago.

This annual increase proves that price pressure remains high, despite a slight decrease of 0.1% compared to May.

The main causes of this increase are the essential items for the survival of every family, where the group "food and non-alcoholic beverages" has had an impact of +1.02 percentage points on annual inflation, while the group "rent, water, electricity, gas and other fuels" has had an impact of +0.96 percentage points.

Beyond the basic items, the report highlights significant annual growth in specific services, with the "entertainment, sports and culture" group leading with a 6.1% increase, followed by insurance and financial services with 5.1%, and rent, water and energy with 4.8%.

While annual figures show a 3.2% increase in transport prices, monthly data reveals a significant decrease of 4% in this sector compared to May.

However, this temporary monthly reduction fails to mitigate the blow that consumers are suffering from the rising cost of food and basic necessities./ CNA

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