In January 2025, inflation experienced a slight decline, reaching 6% compared to 6.2% in December 2024, marking its lowest level since June 2021, according to a report released on Thursday by the National Institute of Statistics (INS).
The institute explained that this decrease in inflation is primarily due to a slowdown in the annual price increase rate for the “food products” category (7.1% in January 2025 compared to 7.2% in December 2024) and the “clothing and footwear” category (8.6% in January 2025 compared to 9.7% in December 2024).
However, prices in the “health services” group rose by 9.1% in January 2025, up from 8.4% in December 2024.
On an annual basis, food product prices increased by 7.1%. This rise was mainly driven by higher prices for lamb (+22.7%), fresh vegetables (+18%), dried fruits (+15.1%), fresh fish (+13.7%), and poultry (+11.2%). In contrast, the prices of edible oils decreased by 13.4%.
Year-on-year, manufactured product prices rose by 5.7%, attributed to increases in clothing and footwear prices (+8.6%) and household maintenance products (+7.7%).
For services, prices increased by 5.3% over the year, largely due to an 11.7% rise in prices for the “restaurants, cafés, and hotels” category.
In January 2025, core inflation (excluding food and energy) fell to 6%, down from 6.3% in December 2024. Prices of unregulated products increased by 6.6% year-on-year, while regulated product prices rose by 3.8%.
Finally, unregulated food products saw an 8% increase, compared to a 1.3% rise for regulated food products.
