The February 2024 year-over-year (YoY) inflation reported at 2.75%, which was less than the 5.47% annual inflation recorded in February 2023. However, The inflation rate for this month is still higher compared to the previous month. The increase in YoY inflation in February 2024 compared to January 2024 was driven by increases in all sectors, exception in the energy sector and the information, communications and financial services sectors. The food and beverage and tobacco industries (6.36%), the personal care and other services sector (3.19%), and the foodstuffs sector (7.01%) showed the highest year-over-year inflation. YoY inflation in the financial services, communication, and information sector plummeted higher than in January 2024, rising from -0.11% to 0.13%.

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