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Monday, April 22, 2024
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Consumer prices increase by 0.4% in February

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In February, the Consumer Price Index for goods and services increased by an average of 0.4% compared to January, according to data released by Monstat.

Year-on-year, consumer prices in February were, on average, 4.3% higher than in the same month the previous year.

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The most significant contributors to the monthly inflation rate were the rising prices in categories such as fuel and lubricants for motor vehicles, vegetables, short-term household maintenance goods, hairdressing services, other personal care services, maintenance and repair services for dwellings, and oils and fats.

When comparing January and February with the same period last year, consumer prices showed an average increase of 4.3%.

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Breaking down the main groups of goods and services based on consumption purposes, February saw notable increases in transportation by 2.4%, furniture, household equipment, and routine household maintenance by 1.1%, other goods and services by 1.0%, and food and non-alcoholic beverages by 0.4%.

There were also increases in the categories of housing, water, electricity, gas, and other fuels by 0.2%, as well as health, recreation, and culture by 0.1%, as reported by Monstat.

However, price declines were observed in the categories of clothing and footwear by 1.6%, alcoholic beverages and tobacco by 0.3%, and restaurants and hotels by 0.2%.

Prices of other goods and services remained relatively stable.

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