Itchy flaky vaginal skin

the skin around my vagina started itching me and then i noticed they became flaky even though the itching has reduced and there are no discharges. what is it likely to be?

Sounds to me like a contact allergy. You might want to try changing your soap you wash with, the detergent you wash your clothes in and make sure you don't spray any feminine spray on yourself either. Use mild soaps or soaps without dyes and perfumes. If you like to take bubble baths that could be a culprit. Spend a few days pampering the area and not using anything that might irritate it (anything with dyes and perfumes). Ivory, dove and neutregena soaps might be good to try if you use something else. If it continues though, I would see a doctor.

Just one more thing... There are some fungus that can cause this symptom so if it isn't better in a day or two (you said itching was going away already so I assume it is getting better) then you should see a doctor. Don't try to self medicate yourself when it comes to that area though, you can really cause yourself some damage.