Inflation Rate Drops to 6% in January
According to the National Institute of Statistics, the inflation rate decreased to 6% in January, down from 6.2% in December.
The decline in inflation is primarily attributed to the decrease in the annual rate of price increases for "food products" (7.1% in January 2025 compared to 7.2% in December 2024) and "clothing and footwear" (8.6% in January 2025 compared to 9.7% in December 2024). Additionally, in January 2025, prices in the "health services" sector saw an increase of 9.1%, up from 8.4% in December 2024.
On an annual basis, the increase in food prices stands at 7.1%. This rise is mainly due to the increase in prices of lamb (+22.7%), fresh vegetables (+18%), dried fruits (+15.1%), fresh fish (+13.7%), and poultry (+11.2%). On the other hand, a decrease of 13.4% was observed in the cost of edible oils.
Over the past year, the increase in prices of manufactured goods stands at 5.7%, largely due to the 8.6% increase in the cost of clothing and footwear and the 7.7% increase in household maintenance products. As for services, the price increase over the past year amounts to 5.3%, mainly driven by the 11.7% increase in prices in the "restaurant, café, and hotel" sector.
