Figures from the National Statistics Office released today show that in August, the twelve-month moving average rate of inflation stood at 2.64 per cent, whereas the annual rate stood at 3.16 per cent.

The Retail Price Index went up by 0.20 per cent. This primarily reflected an increase of 1.04 per cent in the Other Goods and Services Index, mainly due to higher jewellery prices. An upward movement in the price of fish caused the Food Index to go up by 0.96 per cent. Costlier fuels and higher airfares brought about an increase of 0.92 per cent in the Transport and Communication Index. The Beverages and Tobacco Index went up by 0.44 per cent due to higher prices of non-alcoholic beverages. Higher prices of tiles underlay an increase of 0.10 per cent in the Housing Index.

Seasonal decreases in the prices of garments caused the Clothing and Footwear Index to go down by 4.52 per cent. The Household Equipment and House Maintenance Cost Index fell by 0.59 per cent, mainly due to lower-priced furniture. A downward movement in the price of computers caused the Recreation and Culture Index to drop by 0.30 per cent.

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