Consumer prices are expected to see a modest increase of 0.2 per cent from December 2023 to January 2024. The core inflation rate, which excludes volatile food and energy prices, is projected to be higher at 3.4 per cent.
Despite the termination of the energy price brake, which was implemented to mitigate the cost of fossil fuels, energy prices in January 2024 are expected to be 2.8 per cent lower than in the same month the previous year. This decline in energy prices contributes to the overall reduction in the inflation rate, as per Destatis.
The harmonised index of consumer prices (HICP) for January 2024 shows a year-on-year (YoY) increase of 3.1 per cent, with a provisional decrease of 0.2 per cent compared to the previous month.
Fibre2Fashion News Desk (DP)