Inflation rose in April 2024 at a rate of 2.4%, the Statistical Service said in a statement on Thursday, adding that the Consumer Price Index (CPI) in April 2024 increased by 1.68 units to 117.09 units compared to 115.41 units in March 2024, while for the period January-April 2024, the CPI increased 1.8% compared to the same period last year.

It is added that the largest change in economic categories compared to both April 2023 and the previous month was recorded in petroleum products at 7.7% and 8.4% respectively.

Compared to April 2023, it is noted that the largest change was observed in the category Restaurants and Hotels (5.8%), while compared to March 2024, the largest change was observed in the category Transport (5.0%). For the period January - April 2024, compared to the corresponding period last year, the largest changes were observed in the categories Restaurants and Hotels (5.9%) and Other Goods and Services (3.6%).

It is added that the largest positive impact on the change in the April 2024 CPI compared to April 2023 was in Restaurants & Hotels (0.58), Transport (0.58) and Housing, Water, Electricity, Gas and other fuels (0.54) categories, while the largest effect on the change in the CPI compared to the previous month was in the Transportation category (0.86).

Similarly, Petroleum Products (0.86) and Catering Services (0.57) had the most notable effect on the change of the April 2024 CPI, compared to the April 2023 index, while Petroleum Products (0.87) had the largest effect on the change in the April 2024 CPI, compared to the previous month's index.