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Inflation in September 2021

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The effect of seasonal drop of fruit and vegetable prices on consumer inflation was offset by the growth of motor fuel (diesel) prices and certain paid services. As a result, the rate of consumer prices in September, though slowed down, however quite insignificantly circa 0.4% mom (0.5% mom in August). The persistent high rate of non-food prices (+0.6% mom) and paid services (0.7% mom) due to the low base effect of last year contributed to the acceleration of CPI to 8.9% in annual terms (the highest rate since 2016). Inflation rate in September indicates that the increased inflationary pressure in the economy remains high whereas the rise in prices is seen across all components of the consumer basket.

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