What Products and Services Saw the Steepest Price Hikes in January?

Postal services, water, sewage and sanitation services and detergents are among the most expensive services recorded in January 2024, compared to the same month of the previous year, according to data published on Wednesday by the National Institute of Statistics (INS).

In the first month of this year, the price of detergents rose by 22.60%, compared to January 2023, that of postal services by 26.64%, and that of water, sewer and sanitation services by 17.76%.

As for food goods, they became more expensive, on average, by 5.64% compared to January 2023. The biggest price increases were recorded for fresh fish (14.25%), canned fruit ( 13.77%) and beer (13.36%). Decreases were recorded in flour (-28.74%), edible oil (-28.42%) and milling products (-26.52%).

Compared to December last year, other vegetables and canned vegetables (+3.92%), canned fruit (+3.74%) and fresh fruit (+3.37%) went up in price the most.

On the other hand, sorghum was cheaper by 3.72% in January 2024 compared to December 2023, milling products by 2.32%, and edible oil by 2.07%.

In the chapter of non-food goods, in January 2024, compared to January 2023, detergents rose in price the most, by 22.60%, chemical articles, by 16.15%, and hygiene, cosmetic and medical articles by 14.99 %.

According to the INS, there were no reductions in this category. Compared to the previous month, in January, tobacco and cigarettes cost more by 2.32%, fuels recorded an increase of 1.39%, and stoves and cylinders were more expensive by 1.34%. Decreases were recorded in leather footwear, 0.18% and footwear, 0.10%.

Regarding services, in the last year the rates for postal services increased the most, by 26.64%, water, sewage and sanitation – plus 17.76%, and air transport, by 16.59%. There were no reductions in this category either.

In January, compared to December, price increases were recorded in terms of air transport, with 21.12%, postal services, plus 17.28%, water, sewer and sanitation services, 4.19%. Also, there were no reductions in this category.

On Valentine’s Day – February 14 – INS provided data on the price evolution of some products and services over the last year. Thus, in January 2024, compared to January 2023, roses are more expensive by 10.7%, chocolates by 17.2%, coffee by 7.5%, wine by 8.9%, champagne by 11.8% , a meal at a restaurant by 13.8%, and a room at a hotel by 12.2%.

The annual rate of inflation rose in January 2024 to 7.41%, from 6.61% in December, in the conditions where food goods rose in price by 5.64%, non-food goods by 7.36%, and services by 10.91%, according to the data of the National Institute of Statistics (INS), published on Wednesday.