Prices in January 2024 higher by 4.1% at the annual level

The highest increase recorded in divisions Restaurants and hotels, and Food and non-alcoholic beverages

In January 2024 compared to January 2023 (at the annual level), the prices of goods and services for personal consumption, measured by the consumer price index, increased by 4.1% on average. Compared to December 2023 (at the monthly level), they decreased by 0.4% on average.

Observing the main divisions of the ECOICOP classification, at the annual level, the highest increase on average in consumer prices was recorded in the following divisions: Restaurants and hotels, of 10.0% (contribution to the growth of +0.51 percentage points), Food and non-alcoholic beverages, of 6.5% (+1.72 percentage points), Health, of 5.5% (+0.17 percentage points), Education, of 5.4% (+0.04 percentage points), Miscellaneous goods and services, of 4.6% (+0.29 percentage points), Recreation and culture, of 3.9% (+0.20 percentage points), Alcoholic beverages and tobacco as well as Clothing and footwear, of 3.8% in each division (contribution to the growth of +0.19 percentage points in the division Alcoholic beverages and tobacco and of +0.24 percentage points in division Clothing and footwear), Transport, of 3.7% (+0.51 percentage points), and Communication, of 3.0% (+0.16 percentage points).
 
In January 2024, compared to January 2023 (at the annual level), the prices of goods and services for personal consumption, measured by the harmonised index of consumer prices, increased by 4.8% on average. Compared to December 2023 (at the monthly level), they decreased by 0.3% on average.

Find out more information in the First Release.

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