Plunge in fuel prices hold down inflation

Thanks to a decrease in the price of gasoline, the cost of living in January rose just 0.04 percent.

The figure comes from the Instituto Nacional de Estadística y Censos that surveys prices of  292 goods and services.

The steep decline in motor fuel masked the fact that the actual increase in the cost of living was greater.

Some 59 percent of the goods and services surveyed showed increases, the institute said.

By comparison, the inflation rate for 2014 was 5.13 percent. The rate from February 2014 to last month is 4.39 percent, said the institute.

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