Advance CPI data for January was one-tenth higher than December. With this increase, year-on-year inflation broke five consecutive months of decline.
The Consumer Price Index (CPI) rose to 5.8% in January compared to the same month last year, according to advance data from the National Institute of Statistics (INE). Interannual inflation was 5.7% in December, one-tenth lower than in January.
So things, interannual inflation break in five consecutive months of decline and continue promotions. After reaching its peak in July (10.8%), it fell by three-tenths in August, to 10.5%; In September it decreased by 1.6 points, to 8.9%, in October it decreased by 1.6 points, to 7.3% and in November its interannual rate was cut by half a point, to 6.8%, and in December it fell to 5.7 %.
on monthly terms from December 2022 to January 2023, prices dropped by three-tenths.
According to INE, the year-on-year increase in CPI is mainly due to increase in fuel prices because the prices of clothes and shoes are lower at the beginning of this year than in January 2022. On the other hand, the prices of electricity decreased more in January 2023 than last year.
Core inflation rose five-tenths to 7.5%
Core inflation, which excludes unprocessed food or energy products, rose five-tenths, to 7.5%.