In January, the CPI registered a variation of 0.11% and annual inflation stood at 3.19%, 2.26% lower than the figure for January 2015.
The Central Bank reported that the monthly inflation in January reflected a monthly variation of -0.11% (-0.25% in December 2015), mainly explained by lower prices in some goods and services in the divisions of recreation and culture (-6.69%), transport (-1.36%) and education (-0.22%), which together contributed -0.373% to the observed variation. In contrast the division of restaurants and hotels showed the opposite behavior with a variation of 0.59% (0,064pp).
In December, the CPI registered a variation of 0.98%, accumulating inflation of 3.05% throughout the year, well below the 6.48% recorded in the same period in 2014.
The Central Bank reported that the monthly inflation in December was 0.98% (-0.07% in December 2014). This increase was driven mainly by higher prices in the divisions of food and nonalcoholic beverages (1.20%), recreation and culture (5.77%) and; housing, water, electricity, gas and other fuels (2.24%), with a joint contribution of 0.844 percentage points to the observed variation.