Compared to October 2022, the national consumer price index showed a monthly decrease of 0.2%. The main reason for this is the sharp decline in the price of petroleum products.

On Wednesday morning, the National Institute of Statistics and Economic Studies (STATEC) published the national consumer price index for November 2022. Compared to November 2021, the annual inflation rate decreased substantially from 6.9% to 5.9%. Last month alone, STATEC recorded a decrease of 0.2% compared to October, owed mostly to a fall in the price of petroleum products as well as a decrease in travel costs.

STATEC indicates that the next wage indexation will be triggered early next year.

The price of heating oil is down by 15.5%. This is due in part to an increase in government subsidies from 7.5 to 15 cents per litre as of 1 November 2022.

The measure that introduced free childcare outside of school hours also has a positive impact, with rates for these services falling by about 5%. Free school lunches have resulted in a 12% decrease in school canteen prices.