February 2008 Inflation Outlook: To stay above 7 percent

14 02 2008

In January 2008, the consumer price index (CPI) rose 1.77% MoM (month-on-month), after increasing by 1.10% MoM in December 2007. As such, the YoY (year-on-year) inflation rate increased from 6.59% in December to 7.36% in January.

Prices rose in all components of the CPI. The biggest increase was posted by the Foodstuffs component (up 2.77% MoM), followed by the clothing component (up 2.31%), the processed foods component (up by 2.02% MoM), the housing component (up 1.80% MoM), the medical care component (up 0.72% MoM), the transportation component (up 0.24% MoM), and the education component (up 0.10% MoM). Read the rest of this entry »