While inflation persists in the short term, with prices rising by 1.43% compared to January, there is a notable deceleration in long-term inflation trends. Prices have increased by 3.2% compared to February 2023, marking a slowdown from the 3.4% recorded between January 2023 and 2024.
This moderation in price growth signals the conclusion of a prolonged period of inflation in the country. Nevertheless, STATEC observes a resurgence in prices in February compared to the previous month.
Following the conclusion of the sales period, clothing prices surged by 14%, while package holiday costs experienced a notable uptick of 13.5%, boosted by the Carnival holidays.
More bad news comes in the form of an increase in petroleum product prices for the second consecutive month. Diesel prices climbed by 6.2%, while petrol prices rose by 4.5% in February, with heating fuel registering a substantial 10.7% increase.
In terms of food prices, STATEC’s data presents a mixed picture. While notable decreases were observed in baby food (-6.0%), fresh vegetables (-2.7%), and fresh fruit (-0.9%), certain items experienced price hikes. Notably, olive oil (+3.4%), mineral water (+3.7%), and potatoes (+2.0%) recorded increases. Overall, food prices in February 2024 were 4.0% higher compared to the same period in 2023.
