Inflation eases in January from December

Latest reading: Harmonized consumer prices increased 2.0% on a year-on-year basis in January, following a 3.8% rise in the prior month. January's reading was the weakest since November 2024. Relative to the prior month's figures, there were milder price pressures for food and non-alcoholic beverages (+2.3% in annual terms vs +3.6% in December), transportation (+0.7% vs +2.7% in December), housing and utilities (+0.7% vs +8.7% in December) and restaurants and hotels (+4.3% vs +5.2% in December). In contrast, price pressures were higher for recreation in January (+3.2% vs +2.7% in December). Meanwhile, consumer prices were up 2.0% in annual terms in January, following a 3.8% increase in the previous month. Finally, harmonized consumer prices were down 0.84% in January on a month-on-month basis, following a 0.51% rise in the previous month.

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