The inflation rate fell slightly in August to 6.2% after the sharp rise recorded last month from 5.7% in June to 6.4% in July 2021, the National Institute of Statistics (INS) announced Sunday.
This slight drop is due to the slowing down in the rate of price increases between July and August this year compared to the same period last year.
Indeed, a slowdown is observed in the rate of increase in food prices and prices of alcoholic beverages and tobacco. The rate of increase in food prices has been decreasing since July.
Food prices went up 7.4% year-on-year. This rise is explained by the increase in prices of poultry by 21%, fresh vegetables by 21.3%, edible oils by 17.5% (olive oil +19.2%), eggs by 16% and fresh fish by 11.5%.
As for the prices of manufactured goods, they posted an increase of 5.7% due to the rise in prices of pharmaceuticals by 8.6%, building materials by 13%, clothing products by 7.5% and common household maintenance products by 6%.
For services, prices rose 4.3% year-over-year due to price increases in restaurants, cafes and hotels services by 6.9%, health services by 5.9% and rents by 4.6%.
Finally, core inflation (excluding food and energy) fell to 5.9% in August, from 6.1% in July. Prices of free products rose 6% (compared with 6.1% in July). The rate of inflation in August was 5.9%, down from 6.1% in July.
Prices of administered products, meanwhile, were up 6.6% (versus 7.7% in July). Free food products saw an increase of 8% compared to 4.7% for administered food products.