According to the national Statistic Office, lower footwear and clothing prices contributed the most to January deflation, i.e. one percentage point. Due to winter sales prices of clothing dropped by 14.2%, and prices of footwear by 12.8%. At the monthly level prices plunged by 0.4% due to the strong decline in fuel prices, as the prices of liquid fuel dropped by 14.6%, and the prices of motor fuel by 4.8%. Only the prices of vegetables went up – by 4.3%.

Deflation mostly the consequence of the fuel prices
The 0.5% deflation at the annual level was mostly caused by lower prices of oil products. The price of liquid fuel during the year dropped by 19.2%, and the prices of motor fuel by 10.2%. On the other hand deflation was hindered by the prices of telephone and internet services which have increased since last January by 5.8%.

The annual movement of prices evaluated by the harmonised index of consumer prices, an EU benchmark, was negative in January. The calculations show that the annual deflation rate was 0.8% compared to 0.7% in the same month of the last year.

G. C.: ranslated by G. K.