Although surging commodity prices affected consumer demand last year, with the Consumer Price Index (CPI) declining for the sixth consecutive time in December, consumer sentiments have improved.
Food prices also showed signs of slowing down. The food CPI, including food-at-home and food-away-from-home, fell to a 0.3% month-over-month rise in December from 0.5% in November. Similarly, food CPI’s year-over-year growth receded to 10.4% in December from 10.6% in November.
