The inflation rate stood at 7% in July, compared to 7.3% in June, the National Institute of Statistics (INS) announced on Wednesday.
Despite the monthly increase, this decline is due to the deceleration of the rate of price increases between July and June of this year compared to the same period last year, the INS explained.
Indeed, a decline is observed in the annual rate of increase in prices for the “food products” group from 10.1% in June 2024 to 9.4% in July 2024.
On the other hand, the rate of increase in prices for the “leisure and culture” group has accelerated, recording an increase from 5.4% in June 2024 to 5.7% in July 2024.
In July 2024, food prices show an increase of 9.4% over one year. This increase comes mainly from the rise in prices of sheep meat by 24%, edible oils by 21.8%, condiments by 16%, prices of fresh fish by 12.5% and prices of fresh vegetables by 9%.
Prices of manufactured products increased by 6.8% in July, due to the increase in prices of clothing and footwear products by 9.6% and household cleaning products by 8.4%.
For services, the price increase is 5.1% mainly explained by the increase in prices of services of the restaurant, cafes and hotels group by 8.7%.
In July 2024, core inflation (excluding food and energy) fell to 6.5% after 6.8% the previous month. Prices of free (non-regulated) products, on the other hand, increased by 7.8% over one year.
Prices of regulated products showed an increase of 4.2% while free food products increased by 10.5% compared to 2.5% for food products with regulated prices.
