​Consumer Price Developments in January 2014

CPI-All Items inflation inched down to 1.4% in January 2014 from 1.5% in December 2013, on account of a more moderate increase in accommodation cost and a larger decline in private road transport cost.  Accommodation cost rose by 2.4%, compared with 2.9% in the previous month, as imputed rentals on owner-occupied accommodation (OOA) edged up at a slower pace. Private road transport cost fell by 3.5% in January, following the 2.8% drop in December, due to lower COE premiums at the end of 2013.