I have a HP2310i LCD monitor that is rated at 56 watts.
My mains voltage is 240v so the current would be Watts/Volts (56/240) i.e. 0.23 amps.
I suspect your current consumption is 0.12 amps, not 1.2 amps.
Chances are the amperage figure on the back is a misprint.
Also, the power rating may be a peak rating instead of a working rating.