Annual inflation rate down from 6.9% to 5.9%

In November 2022, the national consumer price index, calculated by STATEC, showed a monthly decline of -0.2%. This trend is explained by the sharp decline in the price of petroleum products by 4.8% in one month, combined with a decrease in travel costs.

In November, motorists had to pay 7.4% less for a litre of diesel at the pump and the price of a litre of petrol fell by 1.7% in one month. The bill for heating oil is down by 15.5%. This is partly due to the increase in the government subsidy from 7.5 to 15 cents per litre (incl. VAT) as of November 1, 2022 . Despite this decrease in monthly comparison, the prices of black gold products in the index basket are 20.9% higher than in November 2021.