Year-on-year (y-o-y) inflation measured by the EU's Harmonised Index of Consumer Prices (HICP) amounted to 7.7 percent in January 2022, up from the 5.1 percent recorded in December 2021, the Statistics Office reported on Wednesday.
Monthly harmonised inflation reached 2.8 percent in January, the highest monthly figure to be reported since January 2004. The average harmonised inflation rate for the 12-month period ending in January 2022 amounted to 3.4 percent, increasing by 0.6 percentage points (p.p.) when compared to December 2021. This indicator is important in terms of assessing price stability in a country.
Monthly HICP in January 2022 was mainly influenced by increases in the prices of housing and energy (1.59 p.p.), food and non-alcoholic beverages (0.75 p.p.), alcohol and tobacco (0.1 p.p.), and transport (0.1 p.p.). Conversely, downward pressure on prices month-on-month was exerted by the prices of clothing and footwear (-0.07 p.p.).
Source: TASR
