Inflation soared to 5.1% in September, mainly due to the rapid increase in oil prices, an increase that has also raised prices of other energy products, natural gas and electricity. Inflation had not been at these levels since 2023 (5.4% in March 2023), when the consequences of the war in Ukraine were still intense. Within a year, energy prices have increased by 25.4%, while within a month alone the increase was 5%, despite discounts from refineries and the government’s state subsidy for liquid fuels. Perhaps the greatest fear for the coming period is that the “energy storm” – along with other factors – will hit food prices and by extension family budgets, a fear that not even the Development Ministry can hide.
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