Year-on-year (YoY) inflation in October 2023 was reported at 2.56% or an increase of 0.29% compared to annual inflation in September 2023. This shows that there has been a rebound after last month’s decline. YoY inflation in October 2023 occurred in all sectors, the sectors with the highest YoY inflation values this month were the food, beverage, and tobacco sectors (5.41%) and foodstuffs (5.33%). YoY inflation in the energy sector experienced a greater decline, whereas in June 2023 inflation in the energy sector still reached double digits, but this month it was only 0.11%.
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