The Consumer Price Index (CPI) jumped 18.8% year-on-year in January 2024 compared to the same month last year.

All nine main indices showed increases in January 2024. The country recorded triple-digit inflation rates as it plunged into a multidimensional crisis. Policymakers still refuse to take responsibility and implement the structural reforms needed to turn the country around.

The housing index recorded the largest rise (732.5%), followed by medical care (427.2%), other products and services (382.8%), education (310.7%), and leisure (213.5%).


In January 2024, the “food and beverages” index rose significantly, recording a year-on-year increase of 137.6%. The sub-categories of this index increased as follows:

Tobacco products (153.1%), alcoholic beverages (152.8%), food (137.3%), non-alcoholic beverages (118.5%), vegetables (218.8%), food catering away from home (190.9%), fish and seafood (184.9%), cereals and bakery products (141.8%), and fruit (134.8%).


The housing index jumped by 732.5% year-on-year in January 2024, mainly driven upwards by higher prices for domestic energy (or the energy consumed in a home) +1,042.6%, followed by municipal taxes +900%, public water subscription +327.3%, and housekeeping +106.9%.

Medical Care

The medical care index rose by 427.2% year-on-year in January 2024. This price increase was mainly due to increases in health insurance premiums +9,555.7%, inpatient services +1243.4%, drugs and medical accessories +334.8%, and outpatient care +219.4%.