In January 2024 the Consumer Price Index increased by 0.3% compared to the previous month, while the annual inflation rate amounted to 0.0%. With regard to the annual core inflation, the prices increased by 1.4%, while the annual core inflation without tobacco amounted to 1.2%, reads the report of GeoStat.

The monthly inflation rate was mainly influenced by price changes for the following groups:

Food and non-alcoholic beverages: the prices for the group increased by 1.7%, contributing 0.56% to the overall monthly inflation rate. The prices increased for the following subgroups: vegetables (5.9%), fruit and grapes (4.7%), sugar, jam, honey, chocolate and confectionery (3.9%), fish (2.9%), oils and fats (2.1%), milk, cheese and eggs (1.7%);

Health: the prices increased by 1.1%, contributing 0.1% to the overall index. The prices were higher for the following subgroups: medical products, appliances and equipment (1.5%), hospital services (0.8%) and out-patient services (0.3%);

Furnishings, household equipment and maintenance: the prices for the group posted a 1.4% increase, which contributed 0.08% to the overall monthly inflation rate. Within the group the prices increased for furniture and furnishings, carpets and other floor coverings (4.1%), goods and services for routine household maintenance (2.4%);

Housing, water, electricity, gas and other fuels: the prices for the group decreased by 3.6%, which contributed -0.31% to the monthly inflation rate. The prices were lower for electricity, gas and other fuels (-5.3%) and actual rentals for housing (-1.6%).

The annual inflation rate was mainly influenced by price changes for the following groups:

Transport: the prices for the group increased by 4.3%, contributing 0.53% to the overall index. Within the group the prices increased for the following subgroups: purchase of vehicles (7.8%), operation of personal transport equipment (4.2%), transport services (2.8%);

Miscellaneous goods and services: the prices for the group increased by 9.2%, contributing 0.49% to the overall index. Within the group, the prices were higher mainly for the following subgroups: financial services n.e.c. (26.6%), personal effects n.e.c. (4.4%), personal care (4.1%);

Alcoholic beverages and tobacco: the prices increased by 3.5%, with the relevant contribution of 0.24% to the overall index. The prices increased for both tobacco (4.8%) and alcoholic beverages (2.8%).

Food and non-alcoholic beverages: the prices in the group decreased by 2.4%, contributing -0.82% to the overall annual inflation rate. Within the group the prices decreased for the following subgroups: oils and fats (-15.9%), vegetables (-11.3%), bread and cereals (-9.0%), milk, cheese and eggs (-4.1%). The prices increased for the following subgroups: fruit and grapes (19.7%), meat (6.1%), mineral waters, soft drinks, fruit and vegetable juices (2.9%), sugar, jam, honey, chocolate and confectionery (2.7%), fish (1.9%), coffee, tea and cocoa (1.3%);

Health: the prices decreased by 3.3%, contributing -0.32% to the overall index. The prices were lower for medical products, appliances and equipment (-7.7%). At the same time, the prices increased for out-patient services (5.6%) and hospital services (3.9%).