In that period, the largest increases in the Consumer Price Index (CPI) were recorded in housing, water, electricity and gas with 11,6%; followed by other groups such as food and non-alcoholic beverages (5,3%); restaurants and hotels (4,6); alcoholic beverages and tobacco (3,6). Education, miscellaneous goods and services, furniture, household goods and transportation also increased 0,1%. While health, clothing and footwear, communications, as well as recreation and culture reflected decreases.

Inflation in January 2023 with respect to December 2022 increased by 0,9%, according to INEC’s report.

The groups that reflected a higher increase at the beginning of the year compared to the end of 2022 were housing, water, electricity and gas.

In the case of electricity, consumers registered a 39,6% increase due to the end of the extraordinary subsidy to the electricity rate imputable to the Covid-19 pandemic, a benefit that was applied to households with a consumption of up to 300 kilowatts per hour.

The transportation group was also more impacted by the increase in air fares, which rose up to 18,5%, the study adds.

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