In spite of the decline, inflation rate remains well above the central bank’s target of 13 percent plus or minus two percentage points. A year earlier, inflation was recorded at 13.8 percent.
In January, food prices advanced an annual 6.9 percent, following a 6.8 percent rise in December. Prices for mineral water, soft drinks and fruit registered the highest increase (+ 16.7 percent), followed by coffee, tea and cocoa (+16 percent) and sugar, jam, honey and chocolate (+15.6 percent). Vegetables recorded the smallest increase (+0.6 percent).
Year-on-year, cost of housing, water, electricity and gas advanced 32.3 percent, down from a 35.2 percent in the preceding month. Transport prices went up 31.1 percent and prices of culture and recreation surged 20.4 percent. Other positive contribution came from education (+20.2 percent); clothing and footwear (+18.9 percent); furnishing and household equipment (+17.7 percent) and hotels and restaurants (+13.9 percent).
On a monthly basis, consumer prices advanced 3.4 percent, up from 1 percent in December, mostly due to a 5.7 rise in food prices.