Food and housing see highest inflation rates in February 2023

According to new statistics, the highest inflation rates in February 2023 were registered in the housing and food sectors at 14.27% and 12.19% respectively.

Prices for private households have been found to have increased by 7.11% over February of last year. This represents a rising trend. This is up from the 6.94% registered in January 2023.

Meanwhile, the 12 month moving average rate for February stood at 6.64%. on the other hand, the lowest annual inflation rates were registered in Water, electricity, gas and fuels at 0%.

Transport and communication followed closely at just 1.96%. Food was also at the top in terms of the impact on the annual inflation rate. An impact is a measure showing the change in inflation as a result of the inclusion of an index.

Food ranked at the top largely due to higher prices of take-aways. The second and third largest impacts were measured in the Housing Index (+1.13 percentage points) and the Other goods and services Index (+0.65 percentage points), mainly on account of higher prices of house maintenance services and cleaning products, respectively.

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