Year-on-year (YoY) inflation in February 2023 was reported at 5.47%, an increase of 0.19% compared to annual inflation in January 2023. Inflation was mainly due to the administered price component which experienced YoY inflation of 12.24%. YoY inflation occurred in all sectors except the information, communication and financial services sector (-0.22%), which has consistently experienced deflation over the last 15 months. The highest YoY price increases occurred in the energy sector (15.02%) and transportation (13.59%). YoY inflation for both sectors has penetrated double digits since September last year.
