Inflation remained flat after peaking in the second half of 2022, as new figures show the Consumer Price Index holding steady at 2.5 per cent this February, according to figures released by the Department of Statistics.

The year-over-year percentage change in the all items index was little changed from the figures for December 2023 (2.4 per cent) and January 2024 (2.5 per cent).

But price increases that were realised included the cost of fuel, which rose by 6.2 per cent over the year.

Smokers and drinkers also had to pay more for their habits, with prices in the tobacco and liquor sector increasing by 4.3 per cent.

And food prices continued to rise above the rate of inflation, up 4 per cent compared with February 2023.

But there was a dip in the cost of transport and foreign travel, while other sectors such as rent and clothing reported only marginal increases.

According to the government statistics, inflation flatlined at around 2.5 per cent in the three months between December 2023 and February this year after peaking at 3.9 per cent last October.

Within the food sector, the cost of tea and coffee jumped by almost 15 per cent, followed closely by sugar and confectionery, which rose by 10.1 per cent.

Bread, fruit juices, soft drinks, and mineral water also saw significant increases.

• For more on the Consumer Price Index, see Related Media

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February 2024 CPI Report.pdf