National Statistics Office latest data shows that in October, the annual rate of inflation as measured by the Harmonised Index of Consumer Prices was 2.4%, up from 2.1% in September. The annual inflation in the Euro area was 2.0%.

The NSO noted that the highest annual inflation rates in October were recorded in Education (4.8%) and Transport (4.3%).

The lowest annual inflation rates were registered in Communication (-4.9%) and Furnishings, household equipment and routine maintenance (0.3%).

The largest upward contribution in October to the overall annual inflation was measured in the Food and non-alcoholic beverages index (+0.69 percentage points), largely due to higher prices of vegetables.

The downward contributions to the overall annual inflation were registered in the Communication Index (-0.18 percentage points) mainly reflecting lower prices of mobile phone services.

The 12-month moving average rate for October stood at 2.7%.

File photo: Gozo News/Alain Salvary

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