May’s annual rate of inflation up slightly on April at 2.5%
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In May, the twelve-month moving average rate of inflation stood at 2.7 per cent, whereas the annual rate of inflation stood at 2.5 per cent.
The Harmonised Index of Consumer Prices went up by 1.3 per cent over the previous month. This primarily reflected a seasonal increase of 4.1 per cent in the Restaurants and Hotels Index due to higher-priced accommodation services. Costlier garments caused the Clothing and Footwear Index to go up by 2.5 per cent. Higher prices for fruit moved the Food and Non-alcoholic Beverages Index up by 1.0 per cent. The Transport Index rose by 0.8 per cent, mainly due to increased motor car prices. A similar rise was registered in the Recreation and Culture Index, mainly on account of more expensive package tours. The Miscellaneous Goods and Services Index went up by 0.7 per cent, mostly on account of an increase in the price of jewellery items. Price rises in furniture and furnishings, as well as household textiles, underlay an increase of 0.4 per cent in the Furniture, Household Equipment and Routine Maintenance of the House Index. The Housing, Water, Electricity, Gas and Other Fuels Index advanced by 0.3 per cent as a result of higher gas prices. The Alcoholic Beverages and Tobacco Index edged up by 0.1 per cent due to a small increase in the price of beer.
The Communication Index registered a decrease of 0.2 per cent attributable to cheaper mobile phones.