Consumer prices in July rose by 0.16% compared with the previous month, which is lower than the June increase of 0.65%. The July result was the weakest since March. The result was driven by lower price pressures on transport and lower price pressures on clothing and footwear.
Inflation in July was 3.9% compared to 4.2% in June. Average annual inflation rose to 2.5% in July (June: 2.2%).
FocusEconomics experts predict inflation by the end of 2022 at 3.1%, which is 0.3 percentage points higher than last month’s forecast. For 2023, they predict year-end inflation of 1.7%.