Headline inflation increased slightly from 3.9 percent in December 2025 to 4.1 percent in January 2026, remaining within the medium-term objective range of 3 – 6 percent, and was higher than the 2.5 percent recorded in January 2025. The increase in inflation between December 2025 and January 2026 was mainly due to the acceleration in the rate of price change for a few categories, notably Food & Non-Alcoholic Beverages and Health, while for other categories of goods and services, price changes were generally stable. Similarly, the 16 percent trimmed mean inflation increased from 4.5 percent to 4.6 percent, while inflation excluding administered prices increased from 4.9 percent to 5.1 percent, between December 2025 and January 2026.
Inflation for domestic tradeables increased from 6.2 percent to 6.4 percent between December 2025 and January 2026, mainly due to acceleration in price increases for food items. Similarly, inflation for imported tradeables increased from 6.1 percent to 6.3 percent over the same period, mainly due to an acceleration in the increase of food and vehicle prices. Overall, all tradeables inflation increased from 6.1 percent to 6.4 percent between December 2025 and January 2026. Meanwhile, inflation for non-tradeables was unchanged at 0.6 percent in the same period.Headline inflation increased slightly from 3.9 percent in December 2025 to 4.1 percent in January 2026, remaining within the medium-term objective range of 3 – 6 percent, and was higher than the 2.5 percent recorded in January 2025. The increase in inflation between December 2025 and January 2026 was mainly due to the acceleration in the rate of price change for a few categories, notably Food & Non-Alcoholic Beverages and Health, while for other categories of goods and services, price changes were generally stable. Similarly, the 16 percent trimmed mean inflation increased from 4.5 percent to 4.6 percent, while inflation excluding administered prices increased from 4.9 percent to 5.1 percent, between December 2025 and January 2026.