In January 2024, the annual rate of increase in the Harmonized Index of Consumer Prices was recorded at 2.1%, according to data released today by the Statistical Service.

Compared to the annual performance in December, which was 1.9%, the Index shows a slight acceleration. In January 2024, the Index stood at 112.67 points, compared to 114.09 in December 2023, reflecting a decrease of 1.3% on a monthly basis.

Year-over-year, comparing January 2024 with January 2023, the 'Restaurants and Hotels' category exhibited the largest positive change with a 5.8% increase. Conversely, the 'Transport' category experienced the most significant negative change with a decrease of -1.3%.

Analyzing different economic categories, the most notable annual decrease (compared to January 2023) was in the energy sector. Non-energy industrial goods showed a marginal decrease of 0.1%. In contrast, increases were observed in the 'Services' and 'Food and Alcoholic Beverages' categories, with rises of 4% and 3.2% respectively.