Inflation slows in December from the prior month

Latest reading: Harmonized consumer prices increased 3.8% in annual terms in December, following a 4.0% increase in the prior month. Relative to the prior month's data, there were reduced price pressures for transportation (+2.7% in annual terms vs +2.8% in November), housing and utilities (+8.7% vs +8.8% in November), recreation (+2.4% vs +2.9% in November) and restaurants and hotels (+5.2% vs +5.3% in November). In contrast, price pressures were higher for food and non-alcoholic beverages in December (+3.6% vs +3.4% in November). Meanwhile, consumer prices rose 3.8% on a year-on-year basis in December, following a 4.0% rise in the prior month. Lastly, harmonized consumer prices were up 0.51% in December in month-on-month terms, following a 0.22% increase in the previous month.

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