; Price Trends and Policy
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Price Trends and Policy


Consumer prices increased again in January. They were 0.1% higher than in December 2007, which is unusual for January, when prices normally fall. At the year-on-year level, inflation leapt from 5.6% in December to 6.4%, which was partly caused by the base effect. The overall increase in food prices was 2.7%, contributing 0.5 pp to inflation. The prices of milk, dairy products and eggs surged by 9.7% from December, while the prices of oil and fats jumped by a further 5.5%, despite the high increase in December (7.8%). Only bread and meat prices recorded a slight decrease. In the last 12 months, food prices rose by 14.9%. In January, this increase accounted for almost 40% of the total year-on-year consumer price increase.

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