In November 2020, the annual inflation rate measured by the harmonized index of consumer prices (HICP) reached the value 1.6 %, month-on-month inflation was 0,1 %.

The average annual inflation rate (expressed as the change in the average harmonized index of consumer prices over the last 12 months compared with the average of the previous 12 months) was 2.1 % in November 2020. 

The month-on-month HICP 100.1 was mainly influenced by an increase in prices in the following divisions of the COICOP classification: Recreation and culture (positive contribution of 0.06 percentage point), of which an increase in prices of newspapers and magazines (positive contribution of 0.03 percentage points); Transport (positive contribution 0.04 pp), of which increase in transport services (positive contribution 0.06 pp); decrease in prices of purchases of motor vehicles (negative contribution -0.01 pp), fuels and lubricants (negative contribution -0.01 pp); Furnishings and routine household maintenance (positive contribution 0.01 pp), Alcoholic beverages and tobacco (positive contribution 0.01 pp), Restaurants and hotels (positive contribution 0, 01 pp). On the contrary, prices decreased in the following divisions: Food and non-alcoholic beverages (negative contribution -0.01 pp), of which decrease in prices of non-alcoholic beverages (negative contribution -0.01 pp); Miscellaneous goods and services (negative contribution -0.03 pp), of which price reductions for other personal care products. (negative contribution -0.04 pp) and increase in prices of hairdressing services (positive contribution 0.01 pp).