Annual inflation rate down from 5.9% to 5.4

In December 2022, the national consumer price index, calculated by STATEC, showed a monthly decline of 0.6%. This trend can be explained by the sharp drop in the price of petroleum products by 8.8% in one month.

In December, motorists had to pay 11.5% less for a litre of diesel at the pump and the price of a litre of petrol fell by 12.3% in one month. The price of heating oil is down by 18.0%. Despite this month-on-month decline, the prices of oil-based products in the index basket are 15.8% higher than in December 2021.