Headline inflation increased from 2.5 percent in January to 2.7 percent in February 2025, remaining below the lower bound of the medium-term objective range of 3 – 6 percent, and was lower than the 3.9 percent recorded in February 2024. The increase in inflation between January and February 2025 was mainly on account of the acceleration in the rate of annual price changes of most categories of goods and services, including Food & Non-Alcoholic Beverages, Alcoholic Beverages & Tobacco and Transport. Inflation for domestic tradeables increased from 4.6 percent to 4.8 percent between January and February 2025, mainly on account of an increase in food prices. Similarly, inflation for imported tradeables increased from 1.6 percent to 1.9 percent over the same period, mainly due to an increase in vehicle prices. As a result, all tradeables inflation rose from 2.4 percent to 2.7 percent between January and February 2025. Meanwhile, inflation for non-tradeables rose marginally from 2.5 percent to 2.6 percent in the same period.
Similarly, the 16 percent trimmed mean inflation and inflation excluding administered prices increased from 2.2 percent and 3.5 percent to 2.4 percent and 3.8 percent, respectively, between January and February 2025.