According to latest information from the National Statistics Office, in February, the annual rate of inflation as measured by the RPI was 2.3%, down from 3.2% in January.

The largest upward contribution to the overall annual inflation was measured in the Food Index (+1.19 percentage points), largely to to the higher prices of take-aways, the NSO said.

The largest downward contribution was recorded in the Transport and Communication Index (-0.52 percentage points). The NSO noted that this was mainly reflecting lower prices of mobile phone services.

The 12-month moving average rate for February stood at 4.4%, down from 4.8% in January.

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