Goods prices in many categories have been on a decline, with January headline inflation marking the 4th consecutive month of deceleration.
- January 2024 saw the fourth consecutive month of decreasing inflation, indicating a sustained trend of deceleration.
- Prices of goods in various categories have been declining, contributing to the overall slowdown in headline inflation.
- The Trade Policy and Strategy Office (TPSO) reported that January 2024 marked the lowest inflation rate in 35 months, highlighting a significant downward trend.
According to the Trade Policy and Strategy Office (TPSO), inflation was at its lowest in 35 months in January 2024.
In January, headline inflation, measured by the consumer price index, decreased by 1.11% year-on-year, compared to a 0.83% decrease in December, a 0.44% decrease in November, and a 0.31% decrease in October. Inflation increased by 0.3% in September.
The decrease is due to the reduction in prices in the Energy group, attributed to measures by the state sector to reduce energy costs. A decline in raw food prices, especially fresh vegetables and meat, was also observed due to larger quantities of products on the market and a high price base in January 2023.
