Analysts: inflation was lower than expected in January

The inflation rate in January fell short of the expectations. The main role in the data was played by the significant drop in fuel prices, the reduction of VAT on pork and the moderate increase in the price of services and foods – macroeconomic analysts told MTI.

On the basis of the inflation data they do not expect a monetary policy response, or the further reduction in the base rate.

In January, consumer prices were on average 0.9 percent higher than a year before and, declined by 0.1 percent compared to December – the Central Statistical Office (KSH) told. (MTI)