Inflation slows in January from the prior month

Latest reading: Harmonized consumer prices were up 1.9% in annual terms in January, following a 2.4% increase in the previous month. Relative to the previous month's figures, there were milder price pressures for food and non-alcoholic beverages (+3.2% on a year-on-year basis vs +3.5% in December), transportation (-1.0% vs +0.7% in December), recreation (+1.6% vs +2.0% in December) and restaurants and hotels (+3.9% vs +5.9% in December). In contrast, price pressures were higher for housing and utilities in January (+2.8% vs +1.5% in December). Meanwhile, consumer prices were up 1.9% in January, following a 2.2% rise in the previous month. Finally, harmonized consumer prices were down 1.02% in January in month-on-month terms, following a 0.04% decline in the prior month.

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