The basket effect affected the monthly rate in January by -0.4 percentage points and the yearly rate by -0.1 percentage points.

Lower electricity prices affected the monthly rate in January by -0.3 percentage points and the yearly rate by -0.6 percentage points.

Reduced prices on travel and clothing were seasonally normal.

The CPIF fell by 1.5 percent between December and January. In the corresponding period a year ago, the CPIF fell by 1.0 percent. Lower prices for clothing and shoes, electricity, and travel services were the main contributors to the change on a monthly basis in January 2020.

Prices for clothing, shoes, package holidays and international flights usually decrease in January following higher prices during the Christmas holidays.

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Annual consumer price inflation was 4,5% in January 2020, up from 4,0% in December 2019. The consumer price index increased by 0,3% month-on-month in January 2020.

The main contributors to the 4,5% annual inflation rate were food and non-alcoholic beverages; housing and utilities; transport; and miscellaneous goods and services (Table C on page 6).

Food and non-alcoholic beverages increased by 3,7% year-on-year, and contributed 0,6 of a percentage point to the total CPI annual rate of 4,5%.

Housing and utilities increased by 4,7% year-on-year, and contributed 1,2 percentage points.

Transport increased by 6,4% year-on-year, and contributed 0,9 of a percentage point.

Miscellaneous goods and services increased by 5,7% year-on-year, and contributed 0,9 of a percentage point.

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