In October, the Harmonised Index of Consumer Prices went down by 0.7 per cent over the previous month. In October, the twelve-month moving average rate of inflation stood at 3.0 per cent and the annual rate stood at 3.2 per cent.

The National Statistics Office said that the HICP primarily reflected a decrease of 7.3 per cent in the Restaurants and Hotels Index, mainly due to seasonally lower-priced accommodation services. Lower fees for sea and air transport services brought about a drop of 0.5 per cent in the Transport Index. The Miscellaneous Goods and Services Index decreased by 0.3, mainly due to lower fees for certain financial services.

Seasonally higher prices of garments were the main reason behind an increase of 7.0 per cent in the Clothing and Footwear Index. Higher prices of fruit resulted in an increase of 2.3 per cent in the Food and Non-alcoholic Beverages Index. The Education Index registered an increase of 1.4 per cent due to higher school and private tuition fees.

Costlier mobile phones caused the Communication Index to go up by 0.4 per cent. The Alcoholic Beverages and Tobacco Index registered an increase of 0.2 per cent, mainly on account of higher wine prices. A similar increase was registered in the Housing, Water, Electricity, Gas and Other Fuels Index, mostly due to an upward shift in the price of gas.

Higher priced non-durable household goods underlay a similar increase in the Furniture, Household Equipment and Routine Maintenance of the House Index. The Health Index edged up by 0.1 per cent due to higher fees for medical and paramedical services.

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