Hello,
Thanks for posting your query .
Considering the details you have provided you seem to have most probably a fungal infection of the skin which usually does cause such itchy lesions with central clearing and peripheral erythematous ring .
However there are other possibilities like an annular psoriasis or a chronic bacterial infection .
The next best step would be to get a confirmed diagnosis which is possible only after a thorough evaluation by your dermatologist ( skin specialist ) who after examination and if required certain tests like woods lamp testing , KOH mount , skin biopsy etc come to the exact diagnosis and start suitable treatment .

Meanwhile you should try the following for some relief .
1. Keep the region as clean and dry as possible , you may try using antifungal dusting powders like clotrimazole or ketoconazole for application after bath and at bedtime .
2. For itching and pain relief temporary relief may be offered by antihistamine tablets like fexofenadine or chlorpheniramine and analgesics like acetaminophen as per your doctors prescription ( usually twice daily would suffice in minor conditions )
3. Local application of antifungal antibiotic creams or ointments ( miconazole , ketoconazole with fusidic acid ) may provide relief if the diagnosis is confirmed to be infectious .
4. Please avoid scratching the area or application of any oils or occlusive dressings on the area .
5. If you get such lesions elsewhere in the body please seek prompt medical help as it may indicate an underlying systemic illness like diabetes or immunosuppression .
As of now it's advisable you consult your dermatologist and its very likely to resolve within a couple of weeks of treatment with local and oral medications .

Hope I have answered your query.
Kindly accept my answer in case you have no further queries.
Regards.

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