Inflation as measured by the HICP down to 0.8% from 1.2%

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Inflation as measured by the HICP down to 0.8% from 1.2%In January, the annual rate of inflation as measured by the Harmonised Index of Consumer Prices went down to 0.8 per cent from 1.2 per cent in December 2015. A year earlier the annual rate was 0.8 per cent, the National Statistics Office said today.

The largest upward impacts on annual inflation were brought about by the Alcoholic Beverages and Tobacco Index (0.22 percentage points), the Furniture, Household Equipment and Routine Maintenance of the House Index (0.19 percentage points) and the Food and Non-alcoholic Beverages Index (0.16 percentage points). These were mainly due to higher prices of cigarettes, household appliances and increase in the price of meat respectively..

The main downward impacts were recorded in the Transport Index (0.41 percentage points) and the Communication Index (0.05 percentage points), mainly due to lower fuel prices and cheaper mobile phones respectively.

The twelve-month moving average rate was 1.2 per cent.

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