Highlights of January Headline Inflation
January’s headline inflation was at 0.32% m-m, much lower than December’s inflation of 0.62% m-m. Meanwhile, on an annual basis, January’s headline inflation was at 2.82%—lower than December’s headline inflation of 3.13%.

Maintainable Volatile & Adm. Prices Inflation
January’s benign inflation was attributable to the lowering of monthly volatile inflation and the deflation of monthly administered prices. January’s volatile component posted the inflation of 0.97% m-m, lower than that of 1.55% m-m in December.

January’s monthly volatile inflation was the lowest volatile inflation in January within the last 4 years. On annual basis, volatile inflation posted the inflation of 1.76%, much modest than that of 2.47% in the prior month.

January’s monthly administrated prices posted the deflation of 0.12% m-m, lower than that of 1.20% m-m in December 2018. The deflation of administrated prices was mainly attributable to the decline in non-subsidized fuel prices and prices of train tickets. On annual basis, administered prices posted the inflation of 3.39%, slightly higher than that of 3.36% in the prior month.

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