Consumer Price Index for January 2023

The Consumer Price Index (CPI) increased by 1.4 points or 1.1% from 127.1 in December 2022 to 128.5 in January 2023. The main contributors to the change in the index between December 2022 and January 2023.

Year-on-year (Y-o-y) inflation worked out to 11.8% in January 2023, compared to 7.4% in January 2022. Headline inflation for the 12-months ending January 2023 worked out to 11.1%, compared to 4.6% for the 12-months ending January 2022.

Y-o-y CORE1 inflation stood at 9.4% in January 2023, compared to 6.0% in January 2022 while, y-o-y CORE2 inflation worked out to 7.5% in January 2023, compared to 5.7% in January 2022.

CORE1 inflation for the 12-months ending January 2023 stood at 9.6%, compared to 4.2% in January 2022. Similarly, CORE2 inflation for the 12-months ending January 2023 worked out to 7.5%, compared to 4.7% in January 2022.