The Consumer Price Index (CPI) based on prices in August 2024, is 633.8 points (May 1988=100), 0.09% higher than in the previous month. The CPI less housing cost is 512.1 points, 0.16% lower than in July 2024.
Cost of owner occupied housing (imputed rent) increased by 0.9% (effect on index 0.17%) and prices of electricity and hot water increased by 3.3% (0.11%). Prices of international flights decreased by 7.1% (-0.17%) and cost of tertiary education decreased by 21.1% (-0.14%).
The decrease in cost of tertiary education is due to cancellation of tuition fees in some universities. The changes in cost of tertiary and secondary education affect the CPI in August but changes in cost of primary schools (including price for school meals) will affect the CPI in September. Prices for food decreased by 0.5% (-0.07%), it is the first time in three years that this category decreases.
The CPI is 6.0% higher in August 2024 than in August 2023 and the CPI less housing cost is 3.6% higher than one year ago.
The CPI compiled in the middle of August 2024, 633.8 points, is applicable for indexation purposes in October 2024.