Macroeconomic Analysis Series: Monthly Inflation, August 2022

Year-on-year (YoY) inflation in July 2022 was reported at 4.94% or an increase of 0.59% compared to YoY inflation in June 2022. This inflation rate was the highest since June 2017, which was recorded at 4.37%. Month-on-month (MtM) inflation in July 2022 was recorded at 0.64% which was an increase of 0.03% compared to MtM inflation in June 2022. BPS reported that core inflation, government-regulated prices, and volatile prices contributed to inflation by 0.18%, 0.21%, and 0.25%, respectively. In general, inflation occurred due to price increases in all sectors except for information, communication and financial services sector. The most dominant price increase occurred in food ingredients (1.35%), food, beverages, and tobacco (1.16%), and transportation (1.13%).

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