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Saturday, May 21, 2022

January Inflation Lower than Past Years

Inflation went up only 0.73% last month, the second-lowest January inflation numbers in a decade. Decreasing costs in clothing, transportation and communications helped keep the numbers low.
Food costs, however, continued to rise. The cost of food and non-alcoholic drinks went up 0.94%, meaning that for the last 12-month period food has increased  20.54% in price.
Rises in the costs of housing and education were also steep, coming in at 2.40% and 3.13%, respectively.
Cumulative inflation for the last 12 months remains above 10%. The Central Bank has set its inflation target for 2008 at 8%, plus or minus one point.

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