In January, 2024, the annual rate of inflation as measured by the Harmonised Index of Consumer Prices (HICP) remained at a constant rate of 3.7%, the National Statistics Office said today.

It noted that the highest annual inflation rates in January 2024 were recorded in Food and non-alcoholic beverages (10.1%) and Education (5.6%).

The lowest annual inflation rates were registered in Communication (-9.4%) and Clothing and footwear (-0.8%)

The largest upward impact on annual inflation was measured in the Food and non-alcoholic beverages Index (+1.80 percentage points) largely due to higher prices of vegetables, while the largest downward impact was recorded in the Communication Index (-0.38 percentage points) mainly reflecting lower prices of mobile phone services.

The 12-month moving average rate for January stood at 5.3%.

File photo: Gozo News/Alain Salvary

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