Highest annual inflation rates in January 2023 for food & non-alcoholic beverages

According to the Harmonised Index of Consumer Prices (HICP), as released by the National Statistics Office for January 2023, the highest annual inflation rates were registered for food, non-alcoholic beverages, clothing and footwear.

In January 2023, the annual rate of inflation as measured by the HICP was 6.8%, down from the 7.3% as registered in December of 2022.With a 12-month moving average rate for January standing at 6.3%, the largest upward impact on annual inflation was measured in the food and non-alcoholic beverages index at 11.7%.

Meanwhile, clothing and footwear also experienced some high inflation rates in the first month of 2023 at 9.5%.

On the other hand, the lowest annual inflation rates were registered in Communication (1.3%), Alcoholic beverages and tobacco (2.4%).

As per other sectors, the recreational and culture division registered a 6.3% rate, health 4.0%, restaurants and hotels a 5.7% rate and housing, water, electricity, gas and other fuels at 9.1%

The HICP measures monthly price changes in the cost of purchasing a representative basket of consumer goods and services and is calculated according to specified EU regulations.

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