The biggest price increases of 2022

Sugar is in the top of the highest price increases recorded in the last year, with a 62% increase in October 2022 compared to October 2021, according to the National Institute of Statistics. Oil and potatoes also registered significant increases, with a 40% price increase.

In non-food goods, the biggest increases were in gas, by 40%, electricity by 27%, thermal energy by 23% and fuel, with an increase of 20%.

Telephone services became cheaper by 0.76%, this being the only reduction recorded in October this year compared to October 2021.

From month to month, in September compared to August the most important price increases were recorded for sugar - 12%, potatoes 8% and eggs 7%.

The only food product that got cheaper was oil, with the price registering a rebound of 0.03%.

Also, fuels became cheaper by 1%, this being the only reduction in non-food goods.

The NIS also announced that the annual inflation rate dropped slightly to 15.32% in October, from 15.88% in September.

The National Bank expects inflation to increase moderately towards the end of the year, and then enter a gradual downward trajectory, which drops to the single digit level, at the beginning of 2024.

Translated by: Radu Matei