The value of harmonised (HICP- Harmonised Index of Consumer Prices) inflation continued to rise by half a percent month-on-month, approaching 5 % year-on-year

The average annual rate of HICP inflation (expressed as the rate of change in the average of the Harmonised Indices of Consumer Prices over the last 12 months compared to the average of the Harmonised Indices of Consumer Prices over the previous 12 months) was 2.5 % in November 2021, it is 0.2 percentage points higher than its value in October 2021.

In November 2021,HICP annual inflation, comparing the price level of the Harmonised Index of Consumer Prices in November 2021 against November 2020, increased by 0.4 percentage point compared to its value in October 2021; it reached 4.8 %.

The month-on-month value of harmonised (HICP) inflation in November 2021 was 0.5 %, the same value as in the previous month. This is 0.4 percentage points higher than the value of the month-on-month HICP inflation in November 2020.

The overall November 2021 increase in month-on-month inflation was mainly driven by price increases in the following divisions of COICOP classification: Food and non-alcoholic beverages (the overall month-on-month price increase in this division made a positive contribution of  0.12 percentage points within the overall month-on-month HICP inflation of 0.5 %; of which the increase in food prices was 0.10 p.p. and the increase in the prices of  non-alcoholic beverages was 0.02 p.p.), Furniture, furnishings and routine  household maintenance the positive contribution of the price increase for this division was 0.12 p.p. within the total month-on-month inflation of 0.5 %, of which the largest part was accounted by the month-on-month increase in the prices of goods and services for routine household maintenance  – as much as 0.07 p.p.), Transport (positive contribution of  0.06 p.p.  – almost completely caused by increase in fuel prices), Recreation and culture (the overall positive contribution of  this division is  0.06 p.p.), Miscellaneous goods and services (positive contribution of  0.06 p.p. within the total month-on-month inflation of 0.5 %, of which price increases in personal care products and services covered as much as  0.05 p.p.),  Restaurants and hotels (overall positive contribution of price increases in this division was of  0.05 p.p., caused by increase in prices of catering services). Prices also increased significantly in the division Housing, water, electricity, gas and other fuels - mainly due to an increase in the prices of solid fuels and services for the repair and maintenance of dwellings - the total positive contribution of this division was 0.04 p.p.).

Statistical office publishes data on Harmonized Indices of Consumer Prices (HICP) usually on the day of their publication by Eurostat; a few days after the national CPI inflation release. This is inflation calculated according to the uniform EU methodology in order to ensure the mutual comparability of consumer price indices between countries. Consumer baskets differ in part, The HICP, unlike the CPI, does not include the components "Imputed rents" and selected items related to major repairs and household maintenance, which results in certain differences in the weights of the components.