Image: Colourbox
The main reason for this is the lower prices for heating oil, diesel and premium petrol. Month-on-month, the PPI recorded a slight decline of 0.7 percent for the third month in a row. Energy prices had a slightly dampening effect on the general inflation rate. Nevertheless, the consumer price index rose by 7.0 percent in July compared to the same month last year. Compared to June 2023, the plus was 0.9 percent, compared to July 2021 18.1 percent.
Heating oil cost almost a third (30.0 percent) less in July than in the previous year. Diesel was 24.8 percent cheaper, premium petrol 23.6 percent, wood pellets 8.8 percent and electricity 4.2 percent. On the other hand, the prices for natural gas (+83.5 percent), district heating (+65.6 percent) and firewood (+11.8 percent) have increased significantly.
District heating in particular was responsible for the decline compared to the previous month with a minus of 9.3 percent. Electricity was 4.4 percent cheaper, firewood by 0.7 percent. Meanwhile, natural gas (+3.2 percent), diesel (+2.6 percent), heating oil (+1.5 percent) and wood pellets (+1.2 percent) were more expensive. The price of premium petrol remained unchanged. The energy agency also expects rising prices for petrol, diesel and heating oil in the near future.
Compared to July 2021, however, prices remained at a high level with an increase of around 50 percent. Natural gas was the leader with a plus of 216.9 percent, followed by district heating with 95.2 percent, firewood with 67.6 percent, wood pellets with 59.8 percent and heating oil with 45.8 percent. Households also had to dig deeper into their pockets for diesel (+25.1 percent), premium petrol (+21.2 percent) and electricity (+5.5 percent).
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