Inflation ebbs in January from the prior month

Latest reading: Consumer prices were up 6.4% on a year-on-year basis in January, following a 6.8% increase in the prior month. January's reading was the weakest since March 2025. Relative to the prior month's figures, there were reduced price pressures for food and non-alcoholic beverages (+8.7% on a year-on-year basis vs +8.9% in December) and transportation (+4.0% vs +5.2% in December). In contrast, there were higher price pressures for housing, water, electricity, gas and other fuels (+10.1% vs +9.2% in December) and clothing (+2.9% vs +2.4% in December). Lastly, consumer prices increased 0.50% in January in month-on-month terms, following a 0.30% increase in the previous month.

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