It is the lowest rate since May of 2005.
Year-on-year, transport prices were flat and cost of food and non-alcoholic beverages increased 4.9 percent in January, slowing from a 5.7 percent rise in the previous month. Cost of housing, water, electricity and gas rose at a slower 4.9 percent (7.8 percent in December).
Alcoholic beverages and tobacco recorded the highest increase (5.4 percent), followed by miscellaneous goods and services (5.3 percent).
On a monthly basis, consumer prices rose 1 percent, up from a 0.2 percent increase in December.
The annual inflation rate which excludes food and energy for the month of January has decreased to 2.8 percent from 3.1 percent recorded in December.