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Upward inflation pressures on the horizon

Consumer prices rose by 0.7% in January compared to January 2020, up from 0.6% in December. Despite January’s lockdown, prices rose in all categories except Clothing & Footwear and Food & Non-Alcoholic beverages. Rises in prices of Furniture & Household goods pushed inflation up the most. Compared to December 2020, consumer prices were 0.2% lower in January.

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