Inflation rises in December from the prior month

Latest reading: Consumer prices were up 1.8% on a year-on-year basis in December, following a 1.5% increase in the prior month. December's reading was the joint-strongest since February 2025 but remained below the Central Bank’s 2.0–4.0% target range floor. Relative to the prior month's data, there were higher price pressures for food and non-alcoholic beverages (+1.4% on a year-on-year basis vs +0.1% in November) and clothing and footwear (+2.2% vs +1.8% in November). In contrast, there were milder price pressures for housing and utilities (+2.5% vs +2.9% in November) and transport (+0.3% vs +1.7% in November). Lastly, consumer prices increased 0.85% in December in seasonally adjusted month-on-month terms, following a 0.23% rise in the previous month.

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