Data relating to July showed that year-on-year inflation increased to 9.1 percent, surpassing the rise recorded in the previous month, and it was necessary to go back to November 1992 to find a higher variation.

The analysis of the consumer price index measured by INE indicates that among the 12 classes of service products that are considered, four registered double-digit price changes in the comparison between July and the beginning of the year, namely, food and non-alcoholic beverages, housing, water, electricity and gas, transport, and restaurants and hotels.

In the year-on-year comparison, with July 2021, in addition to these categories of products and services mentioned, there is one more (home accessories) with a double-digit increase.

The rise in prices has been felt since last year, but it was accentuated this year, with the beginning of the war in Ukraine and the sharp rise in energy prices.

According to INE data, the year-on-year change in the prices of food and non-alcoholic beverages increased 14.0 percent, and 11.47 percent compared to the beginning of the year. In housing, water, electricity and gas, the increase amounts to 17.7 percent compared to July 2021 and 12.92 percent compared to the beginning of the year.

Contributing to the rise in prices in this class of products is the variation in electricity prices (30.54 percent compared to January) and gas (23.54 percent).

In the category that includes restaurants and hotels, INE data points to a year-on-year rise of 14.65 percent and 13.08 percent compared to the beginning of the year, this being essentially explained by accommodation services, with a variation of 61.21 percent (compared to January), while the service of meals in restaurants, cafes and similar rose 4.38 percent.