The monthly inflation rate was 0.6%, while the annual inflation rate was 3.5%, according to the preliminary data of NSI. The inflation rate is measured by the CPI, with monthly inflation referring to January 2026 compared to the previous month, and the annual inflation is for January 2026 compared to the same month of the previous year.
In January 2026, compared to the previous month, the increase was registered in the following groups: 'Personal care, social protection and miscellaneous goods and services’ (1.8%), ‘Restaurants and accommodation services’ (1.6%) and ‘Insurance and financial services’ (1.3%). The decrease in the prices was recorded in the following groups: ‘Clothing and footwear’ (-4.0%) and ‘Information and communication’ (-0.3%).
Consumer Price Index (CPI)
According to the preliminary data of NSI, in January 2026, the monthly inflation rate, measured by CPI, was 0.6% and the annual inflation rate in January 2026, compared to January 2025, was 3.5%.
The annual average inflation rate for the period February 2025 - January 2026 compared to the period February 2024 - January 2025 was 4.6%.
Monthly inflation
In January 2026, the prices of goods and services increased in the following consumer groups:
- ‘Personal care, social protection and miscellaneous goods and services’ - an increase of 1.8%;
- ‘Restaurants and accommodation services’ - an increase of 1.6%;
- ‘Insurance and financial services’ - an increase of 1.3%;
- ‘Recreation, sport and culture’ - an increase of 1.2%;
- ‘Food and non-alcoholic beverages’ - an increase of 0.9%;
- ‘Health’ - an increase of 0.9%;
- ‘Furnishings, household equipment and routine household maintenance’ - an increase of 0.9%;
- ‘Housing, water, electricity, gas and other fuels’ - an increase of 0.8%;
- ‘Education services’ - an increase of 0.7%;
- ‘Alcoholic beverages, tobacco and narcotics’ - an increase of 0.5%;
- ‘Transport’ - an increase of 0.1%.
The prices of goods and services decreased in the following consumer groups:
- ‘Clothing and footwear’ - a decrease of 4.0%;
- ‘Information and communication’ - a decrease of 0.3%.
Accumulated inflation
The accumulated inflation, measured by CPI, for the last three years (January 2026 compared to January 2023) was 11.5% and for the last five years (January 2026 compared to January 2021) was 42.1%.
Harmonized Index of Consumer Prices (HICP)
In January 2026, the monthly inflation rate, measured by HICP, was 0.6% and the annual inflation rate in January 2026 compared to January 2025 was 2.3%.
The annual average inflation rate for the period February 2025 - January 2026 compared to the period February 2024 - January 2025 was 3.4%.
Monthly inflation
In terms of HICP, in January 2026, the prices of goods and services increased in the following consumer groups:
- ‘Personal care, social protection and miscellaneous goods and services’ - an increase of 3.1%;
- ‘Restaurants and accommodation services’ - an increase of 1.7%;
- ‘Recreation, sport and culture’ - an increase of 1.1%;
- ‘Furnishings, household equipment and routine household maintenance’ - an increase of 1.0%;
- ‘Health’ - an increase of 1.0%;
- ‘Food and non-alcoholic beverages’ - an increase of 0.9%;
- ‘Housing, water, electricity, gas and other fuels’ - an increase of 0.8%;
- ‘Insurance and financial services’ - an increase of 0.8%;
- ‘Education services’ - an increase of 0.7%;
- ‘Alcoholic beverages, tobacco and narcotics’ - an increase of 0.5%.
The prices of goods and services decreased in the following consumer groups:
- ‘Clothing and footwear’ - a decrease of 4.0%;
- ‘Transport’ - a decrease of 0.2%;
- ‘Information and communication’ - a decrease of 0.2%.
Accumulated inflation
The accumulated inflation, measured by HICP, for the last three years (January 2026 compared to January 2023) was 10.3% and for the last five years (January 2026 compared to January 2021) was 35.8%.
Price Index of a Small Basket (PISB)
According to the preliminary data of NSI, in January 2026, the monthly rate, measured by PISB, was 0.5% and the annual rate in January 2026, compared to January 2025, was 2.9%.
In January 2026, compared to the previous month, the prices of goods and services in the small basket for the 20% of households with the lowest income changed as follows:
- ‘Food products’ - an increase of 0.7%;
- ‘Services’ - an increase of 0.6%.
The prices of ‘Non-food products’ remained unchanged.
