The indicator for core inflation, excluding indirect tax effects, was 1.0% in January, dropping further from 1.1% in December, while the indicator for demand-sensitive inflation, which excludes processed foods from core inflation, was 1.5% after remaining at 1.6% for the previous two months. The indicator for sticky price inflation, which includes items for which retail prices vary, on average, no more than 15% a month, slowed the most: to 1.9% year-on-year after climbing to 2.2%.
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