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Annual inflation rate 4.8% and RPI up 0.86% in July

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InflationIn July 2008, the Retail Price Index went up by 0.86 per cent over the previous month, increasing to 115.98 from 114.99 in June. This primarily reflected an increase of 25.76 per cent in the Water, Electricity, Gas and Fuels Index, mainly due to an increase in the surcharge rate.

The Transport and Communication Index went up by 1.26 per cent, mainly due to higher prices in air transport services and fuels.

The Housing Index registered an increase of 0.94 per cent, which was brought about by higher prices of services related to the repair and maintenance of dwellings.

The Food Index increased by 0.59 per cent, mainly on account of rises in the prices of fruit, vegetables and chocolates.

Costlier insurance policies were reflected in an upward shift of 0.37 per cent in the Other Goods and Services Index.

A marginal increase was also recorded in the Beverages and Tobacco Index.

The Clothing and Footwear Index fell by 5.70 per cent, mainly as a consequence of seasonal sales.

Seasonal price reductions of furniture, household textiles, articles and appliances underlay a decrease of 0.63 per cent in the Household Equipment and House Maintenance Cost Index.

Slight decreases were also recorded in the Personal Care and Health Index and in the Recreation and Culture Index.

In July the twelve-month moving average rate of inflation stood at 3.28 per cent, whereas the annual rate stood at 4.80 per cent.

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