In December 2021, inflation stood at 3.5%, revealing a modest decrease of 0.4 percentage points in January. This development comes as welcome news, considering that high inflation rates can have detrimental effects on households and overall economic stability.
Various factors contributed to this moderation in inflation. One key driver was the decline in energy prices. Energy costs, which had been rapidly surging over the past months, saw a noticeable decrease in January. This can perhaps be attributed to a decrease in global crude oil prices and a more stable energy market.
