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Sunday, November 27, 2022
HomeEconomySignificant de-escalation: Inflation at 9.1% in October

Significant de-escalation: Inflation at 9.1% in October

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Inflation plunged to 9.1% in October from 12% in September

The decrease of the General CPI by 1.2% in the month of October 2022, compared to the corresponding Index of September 2022, mainly came from the changes in the following groups of goods and services:

1. From the reductions of the indicators by:

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• 11.5% in the Housing group, mainly due to a decrease in prices in: electricity, natural gas, heating oil. Part
of this decrease was offset by the increase mainly in residential rental prices.
• 0.3% in the Hotels-Cafes-Restaurants group, mainly due to a decrease in prices in hotels-motels-inns. Part
of this decrease was compensated by the increase in prices mainly in restaurants-confectioneries-cafes.

2. From the increases of the indicators by:

• 1.3% in the Food and non-alcoholic drinks group, mainly due to price increases in: bread, pasta, beef, pork,
lamb and goat, fresh whole milk, cheeses, olive oil, fresh fruit, fresh vegetables, potatoes. Part of that increase
was offset by the decrease mainly in fresh fish prices.
• 3.5% in the Clothing and footwear group, due to price increases in clothing and footwear.
• 1.6% in the group Durable goods-Household goods and services, mainly due to price increases in: immediate items
household consumption, household services.
• 2.1% in the Transportation group, mainly due to price increases in: new cars, used cars,
diesel, car fuel (gasoline), air passenger tickets.
• 0.4% in the Other goods and services group, mainly due to an increase in prices in hairdressers and shops
personal care.

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Michael
Michael
I have worked in the news industry for over 10 years and have been an author at News Bulletin 247 for the past 5 years. I mostly cover technology news and enjoy writing about the latest gadgets and devices. I am also a huge fan of music and enjoy attending live concerts whenever possible.

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