National Institute of Statistics and Economic Studies said, over a year, the Consumer Price Index (CPI) should rise by 1.5% in January 2020, as in the previous month. The inflation should be stable: the acceleration in energy prices should be offset by a lesser dynamism in service, food and tobacco prices and a slightly more marked drop in the prices of manufactured goods.

Over one month, consumer prices should fall by 0.4%, after +0.4% in the previous month. Manufactured product prices should drop sharply due to winter sales and those of energy should edge down in the wake of petroleum product prices. Service prices should fall back in January, due to a seasonal downturn in transport service prices. Moreover, food prices should rise less than in the previous month. Finally, tobacco prices should increase slightly.

Year on year, the Harmonised Index of Consumer Prices should rise by 1.6%, as in December. Over one month, it should fall back by 0.5%, after +0.5% in the previous month.