NewsThe inflation rate stands at 4.4 percent

The inflation rate stands at 4.4 percent

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The prices of goods and services for personal consumption, measured by the Consumer Price Index, were on average 4.4 percent higher in January compared to the same period last year, according to data from Monstat.

Monstat announced that consumer prices in January were on average 0.5 percent higher compared to December last year.

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“The greatest impact on the monthly inflation rate was contributed by the increase in prices in the following groups: milk, cheese, and eggs; electricity; vegetables; water supply; short-term goods for routine household maintenance; other appliances; personal care products; postal services; oils and fats,” the statement said.

Consumer prices from January to December last year, compared to the same period in 2022, were on average 8.6 percent higher.

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Looking at the main groups of products and services by consumption purpose, in January compared to December of last year, there was an increase in the following groups: housing, water, electricity, gas, and other fuels by 1.5 percent; other goods and services by 1.3 percent; furniture, household equipment, and routine household maintenance by 1.2 percent; food and non-alcoholic beverages by 1.1 percent; alcoholic beverages and tobacco by one percent; communication by 0.9 percent; recreation and culture by 0.7 percent.

“A decrease in prices was recorded in the groups of clothing and footwear by 2.7 percent, transportation by 0.7 percent, as well as restaurants and hotels by 0.3 percent,” the statement said.

The prices of other products and services did not significantly change.

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