2024-08-18 07:14:31
Inflation on an annual basis decreased in July to 2.4%, but the monthly inflation went up again after the drop in prices compared to the previous month. In July, their increase compared to June was 0.8%. The last time there was such a high monthly price increase was exactly a year ago – last July.
And this time, the July increase in prices is typical of summer and is primarily due to the increased demand for goods and services that are related to vacations and free time.
For example, prices for cultural and sporting events, goods and services rose sharply by 8.7% after months of falling.
By 3.9% in just one month, the prices for visits to restaurants and bars rose, while food products and beverages marked only 0.1% growth.
Transport, which mostly became cheaper in recent months, became more expensive again, although only by 0.9% compared to June.
July is a month in which air tickets traditionally become more expensive, but fuel also became cheaper only in the last week, otherwise throughout July, gasoline and diesel were relatively expensive against the backdrop of the recent calm in oil prices.
This July, for example, plane tickets have risen in price by 26.3%, while last year at the same time their prices had risen by only 12.6%. This is also the commodity with the biggest increase in price during the month.
Another source of inflation in July 2024 is package holiday prices, which remain flat for the rest of the year. This time they have increased in price by 15.8% in just one month.
Hotel accommodation also contributes to the relatively high price increase. In June it increased its prices by 10.9%, and in July – by another 20.4%.
There will most likely be an annual price increase in August as well, but this is unlikely to affect the annual price increase, which will most likely be able to fit within the 2.2% forecast. Even so, however, our country will not meet the conditions for adopting the euro in the fall, because the annual price increase is still higher than the average for the three eurozone member countries with the lowest inflation.