In October, the twelve-month moving average rate of inflation stood at 2.8 per cent, whereas the annual rate of inflation stood at 2.4 per cent.

In October, the Harmonised Index of Consumer Prices went down by 0.9 per cent over the previous month. This primarily reflected a decrease of 9.4 per cent in the Restaurants and Hotels Index on account of seasonal price reductions in accommodation services. Lower- priced package tours were the main cause behind a decrease of 0.9 per cent in the Recreation and Culture Index. The Communication Index went down by 0.5 per cent due to cheaper mobile phones. These figures come from the National Statistics Office.

The Clothing and Footwear Index went up by 4.6 per cent due to seasonal price increases in garments. An increase in schooling and private tuition fees resulted in a rise of 3.5 per cent in the Education Index. Higher prices for fish were the main reason behind an increase of 2.9 per cent in the Food and Non-alcoholic Beverages Index. The Furniture, Household Equipment and Routine Maintenance of the House Index rose by 0.2 per cent on account of an upward movement in the price of non-durable household goods. The Transport Index went up by 0.3 per cent due to costlier fuels. Higher prices for jewellery brought about an increase of 0.2 per cent in the Miscellaneous Goods and Services Index. The Alcoholic Beverages and Tobacco Index edged up by 0.1 per cent, mainly due to an increase in the price of spirits and beer.

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