Feb 4, 2019

CPI inflation stood at 2.2% in January 2019

Quick Update

  • Annual inflation stood at 2.2% in January 2019, up 0.7 PP compared to annual inflation in December 2018. Base effect and higher excise taxes on tobacco had significant impact on inflation increase. Over the same period annual core inflation* came in at 1.7% YoY, 0.8 PP higher than in the previous month. Excluding tobacco prices, annual core inflation stood at 0.6%, slightly higher (+0.2 PP) compared to the same indicator a month ago.
  • From product groups perspective, together with price increase on alcoholic beverages and tobacco (+10.1% YoY), prices on healthcare (+3.4% YoY), hotels and restaurants (+3.5% YoY), food and non-alcoholic beverages (+3.2% YoY) also contributed positively to annual inflation in January 2019. Prices decreased most on clothing and footwear (-8.8% YoY) and communication (-2.5% YoY).
  • On seasonally adjusted annualized terms estimated inflation stood at around 7.6% in January 2019.