The increase in consumer prices in Saxony has weakened slightly in October. The annual rate of inflation was below the mark of five percent for the first time in 19 months and probably reached 4.5 percent, as the State Statistical Office announced in Kamenz on Monday. In October 2022, the annual inflation was almost twice as high (8.8 percent).
For alcoholic beverages and tobacco products, prices climbed 9.1 percent compared to the same month last year. Services (7.6 percent) and restaurant and accommodation services (7.0 percent) recorded similar trends.
In contrast, car owners were pleased with the year-on-year decline in prices for fuel (-9.1 percent). The start into the heating period of this year was clearly more favorable for owners of oil heatings (-18.3 per cent) or for users of district heating (-13.8 per cent) than in the previous year. In contrast, more money had to be budgeted for the purchase of gas (16.7 percent) or electricity (21.2 percent).
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