In January 2023 the Consumer Price Index increased by 0.8 percent compared to the previous month, while the annual inflation rate amounted to 9.4 percent.

With regard to the annual core inflation1 , the prices increased by 7.7 percent, while the annual core inflation without tobacco2 also amounted to 7.7 percent.

The monthly inflation rate was mainly influenced by price changes for the following groups:

Food and non-alcoholic beverages: the prices for the group increased by 1.4 percent, contributing 0.46 percentage points to the overall monthly inflation rate. The prices increased for the following subgroups: vegetables (7.6 percent), fruit and grapes (2.6 percent), milk, cheese and eggs (2.5 percent), bread and cereals (1.3 percent). At the same time, prices decreased for the subgroup of sugar, jam, honey, chocolate and confectionery (-2.0 percent) and oils and fats (-1.9 percent);

Furnishings, household equipment and maintenance: the prices increased by 2.5 percent, contributing 0.13 percentage points to the overall index. Within the group the prices increased for the following subgroups: furniture and furnishings, carpets and other floor coverings (5.3 percent), goods and services for routine household maintenance (4.3 percent);

Clothing and footwear: the prices decreased by 2.3 percent, contributing -0.09 percentage points to the overall monthly inflation rate. The prices went down for both clothing (-2.5 percent) and footwear (-1.6 percent).

The annual inflation rate was mainly influenced by price changes for the following groups:

Food and non-alcoholic beverages: the prices in the group increased by 15.0 percent, contributing 5.03 percentage points to the overall annual inflation rate. Within the group the prices increased for the following subgroups: vegetables (26.5 percent), bread and cereals (22.8 percent), coffee, tea and cocoa (17.1 percent), milk, cheese and eggs (16.7 percent), mineral waters, soft drinks, fruit and vegetable juices (16.5 percent), fish (13.0 percent), sugar, jam, honey, chocolate and confectionery (12.4 percent), meat (8.7 percent), oils and fats (4.7 percent);

Housing, water, electricity, gas and other fuels: the prices for the group posted a 13.1 percent increase, which contributed 1.38 percentage points to the annual inflation rate. The prices were higher for the following subgroups: actual rentals for housing (40.0 percent), maintenance and repair of the dwelling (9.1 percent);

Transport: the prices for the group increased by 5.2 percent, contributing 0.63 percentage points to the overall index. Within the group the prices increased for transport services (18.5 percent) and operation of personal transport equipment (2.8 percent). At the same time, prices decreased for the subgroup of purchase of vehicles (-2.5 percent).