The Central Bank Governor Hector Valdez Albizu says that the high inflation registered in January was seasonal and normal for the month. He said that over the past 10 years January has been one of the months of the most increases in the consumer price index. In some years, inflation in January has been equal to half the accumulated inflation for the year. Other months of high inflation are April, September, October and December.
Years of record inflation in January were 2001, when annual inflation was 4.38% of which January contributed 57%, with 2.5% in that first month. In 2004, January contributed 32% of the CPI increase, when inflation in January was 9.23%.
Valdez said that in 2007 and 2008, the year got off with inflation peaks that were later controlled.