Latest data from the National Statistics Office today show that in July, the annual rate of inflation as measured by the Harmonised Index of Consumer Prices was 2.3%, up from 2.2% in June.

The annual inflation in the Euro area was 2.6%.

The NSO noted that the highest annual inflation rates in July were recorded in Miscellaneous goods and services (4.5%) and Food and non-alcoholic beverages (4.1%).

The lowest annual inflation rates were registered in Communication (-12.2%) and Furnishings, household equipment and routine household maintenance (0.9%).

The largest upward contribution to the overall annual inflation was measured in the Restaurants and hotels Index (+0.77 percentage points) largely due to higher prices of restaurant services.

The largest downward contribution was recorded in the Communication Index (-0.46 percentage points) mainly reflecting lower prices of mobile phone services.

The NSO said that the 12-month moving average rate for July stood at 3.3%.

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