Annual inflation rate down from 3.5% to 3.4%

In January 2024, the national consumer price index, calculated by STATEC, showed a monthly decline of 0.5%. As in previous years, this was due to price reductions during the winter sales. Excluding petroleum products, prices of other goods and services rose by 0.4%.

Some categories posted sharp falls in January due to the winter sales. Prices in the "Clothing and footwear" division were down 12.8% on December. Compared with January of the previous year, clothing and footwear prices were nevertheless 1.5% higher. Items related to furnishings, household appliances, personal and household goods were also affected by the sales, but to a lesser extent.