Consumer prices in July: Annual inflation rate down from 7.4% to 6.8

In July 2022, the national consumer price index, calculated by STATEC, fell by 1.0% compared to the previous month. As is the case every year, this decline is due to the price reductions offered during the summer sales. Petroleum products fell by 5.0% in one month. Excluding petroleum products, prices of other goods and services increased by 0.3%.

Some categories show strong price decreases in July due to the summer sales. For example, prices in the "clothing and footwear" division fell by 12.1%. To a lesser extent, the sales also had an impact on other categories, such as furniture (-4.2%), jewelry and watches (-3.1%) and personal effects (-1.8%). These decreases will generally be neutralized next month, as the indices for these goods will then return to their pre-sale levels.