CPI drops to levels last seen in 2011

CPI drops to levels last seen in 2011

Annual CPI inflation dropped to 4,4% in January 2015 from 5,3% in December 2014, the lowest since April 2011, when the CPI stood at 4,2%.

Key drivers pulling the CPI down were petrol and food. The 127c/l drop in the price of petrol in January further contributed to the decline in the CPI for petrol, which decreased from -5,5% in December 2014 to -17,6% in January 2015.

Food inflation has also slowed, decreasing from 7,4% in December 2014 to 6,6% in January 2015.

The main driver of the declining food inflation was vegetables, 1,0% for January 2015 against 4,9% in December 2014. On a month-to-month basis the prices of food and non-alcoholic beverages increased by 0,9%.

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