In July, headline inflation fell from 4.6 percent as at June, to 4.5 percent. Inflation increased only for restaurants and hotels (from 7.6 to 7.8 percent). However, this was offset by inflation easing with respect to housing, water, electricity, gas and other fuels (from 3.8 to 3.7 percent); furnishing, household equipment and routine maintenance (from 5.2 to 5.0 percent); health (from 9.4 percent to 9.3 percent); transport (from 1.0 to 0.8 percent); recreation and culture (from 4.3 to 4.2 percent); and miscellaneous goods and services (from 6.6 to 6.4 percent). Inflation was unchanged for food and non-alcoholic beverages (3.2 percent); alcoholic beverages and tobacco (9.2 percent); clothing and footwear (5.8 percent); communication (0.4 percent); and education (7.4 percent).

The trimmed mean measure of core inflation and inflation excluding administered prices remained unchanged at 4.2 and 5.3 percent, respectively.