According to data issued today by the INS, the inflation rate dropped to 7.2% compared to 7.5% in March. This fall in inflation, despite the monthly increase, is due to the slowdown in the rate of price increases between April and March of this year compared to the same period last year.
In April 2024, food prices will increase by 9.2% year-on-year. This increase mostly comes from the increase in the prices of coffee powder by 35%, sheep meat by 25.5%, edible oils by 21.4%, condiments by 17.4%, beef by 14, 3% and fresh fish 12.1%.
Over one year, the prices of manufactured products increased by 7.1% due to the growth in the prices of clothing products by 9.8% and routine household cleaning products by 9%. For services, the increase in prices is 5.6% over one year, particularly explained by the increase in prices for restaurant, cafe and hotel services of 10.4% and health services of 9.3%.
The underlying inflation rate (excluding food and energy products) fell slightly to stand at 6.9% after 7% the earlier month. The prices of free (unframed) products increased by 7.9% over one year. The prices of framed products increased by 4.7%. Free food products saw an increase of 10% compared to 3.6% for food products at controlled prices.
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