The recent spike in consumer prices throughout September has been predominantly fueled by sharp increases in energy costs and mounting food prices. Global supply chain disruptions, coupled with heightened demand for fuels, pushed energy bills significantly upward, impacting households and industries alike. Meanwhile, adverse weather events affected crop yields, driving up the prices of staples such as grains, vegetables, and dairy products. These combined factors contributed to a broader inflationary pressure felt across numerous sectors.

Key contributors to the inflation surge include:

  • Crude Oil Prices: Rising by nearly 15% compared to the previous month.
  • Electricity and Gas: Household energy tariffs increased sharply.
  • Food Commodities: Price hikes in cereals, oils, and fresh produce.
Category Price Change (September 2024)
Energy +12.8%
Food +9.4%
Transportation +6.2%
Housing +3.1%