Inflation decelerates in December from the prior month

Latest reading: Consumer prices were up 2.4% on a year-on-year basis in December, following a 2.5% rise in the prior month. December's reading was the weakest since April 2024 and remained within the Central Bank’s 1.5–3.5% target range. Relative to the prior month's data, there were milder price pressures for food and non-alcoholic beverages (+2.6% in annual terms vs +2.8% in November) and fuels for personal transport (-3.1% vs -1.9% in November). In contrast, price pressures were higher for electricity, gas and other fuels in December (+2.8% vs +2.7% in November). Lastly, consumer prices were stable in December in month-on-month terms, following a 0.10% increase in the previous month.

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