Consumer prices increased at their slowest pace in five months in January, largely due to flat petroleum product prices.

The Ministry of Data and Statistics announced Tuesday that the country’s consumer price index rose 2 percent from the previous year to118-point-03 in January

The consumer inflation rate has remained in the two percent range since September of last year, but the pace of increase has gradually slowed since October.

The moderation in inflation was driven by petroleum prices, which remained flat after driving hikes since August of last year.

The prices of agricultural, livestock and fisheries products rose two-point-six percent, the smallest increase in four months since September of last year.

The cost-of-living index, which focuses on frequently purchased items and closely reflects perceived inflation, rose two-point-two percent in January.