Overall inflation fell 0.17 percent in January this year compared to December last year, according to 2024’s first Consumer Price Index (CPI) released by the National Bureau of Statistics.

According to the latest CPI report, the biggest decline in prices during the month was due to the fall in prices of water, electricity, household appliances as well as fruits and vegetables.

Overall, prices in all other key sectors, except healthcare, were lower than in January.

Prices for bedridden and disabled assistive products increased by 4.6 percent, while outpatient services saw a 1.7 percent rise. Overall, healthcare prices rose by 1.5 percent.

Goods and services(with percentage reductions) include;

  • Furniture and household goods (1.5 percent)
  • Communication services (0.4 percent)
  • Rent, water, electricity, fuel and other energy products (0.3 percent)
  • Transportation (0.3 percent)
  • Clothing and shoes (0.2 percent)

Prices in many sectors remained higher in January this year compared to the same period last year.

In 2023, food and fresh fish were the most expensive items, with the price of fresh fish rising by 7.4 percent and food prices by 4.6 percent. Additionally, prices for insurance and financial services increased by 5 percent.

Overall inflation rose 0.8 percent year-on-year.