The latest data indicates that inflation has been on a downward trend for the past four months, with January 2024 showing the lowest inflation rate in 35 months. This sustained deceleration is linked to decreasing prices across a range of goods categories, contributing to the overall slowdown in headline inflation.
Specifically, the decline in energy prices, driven by state sector measures to reduce costs, and the drop in raw food prices, particularly fresh vegetables and meat, due to increased product availability and a higher price base in January 2023, have been significant factors in this trend.
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