The annual inflation rate eased to 31.75% in July 2026 from 32.11% in June, coming in just below market expectations of 31.8%. This was the lowest rate since March and reflected a notable slowdown in several categories: housing and utilities (40.32% vs 45.14% in June), transport (30.83% vs 31.15%), alcoholic beverages and tobacco (29.38% vs 34.15%), information and communication (23.97% vs 25.57%), recreation, sport and culture (23.36% vs 25.39%), education (44.18% vs 46.10%), insurance and financial services (25.64% vs 28.07%), and miscellaneous goods and services (21.74% vs 22.71%).
In contrast, inflation accelerated in several other segments, including food and non-alcoholic beverages (37.53% vs 35.45%), clothing and footwear (16.48% vs 14.18%), furniture and household goods (22.41% vs 22.32%), health (43.89% vs 33.62%), and restaurants and hotels (31.65% vs 31.61%).
On a monthly basis, consumer prices rose 1.78%, the highest increase in three months, after a 0.99% gain in June. This was slightly below market forecasts of a 1.83% rise.
