In July, the twelve-month moving average rate of inflation stood at 3.3 per cent, whereas the annual rate of inflation stood at 5.6 per cent.

In July 2008, the Harmonised Index of Consumer Prices increased by 1.9 per cent, rising to 110.58 from 108.55 in June. This primarily reflected an increase of 8.2 per cent in the Housing, Water, Electricity, Gas & Other Fuels Index, mainly brought about by the increased surcharge rate.

The Restaurants and Hotels Index registered an increase of 5.8 per cent, due to seasonal price rises in accommodation services.

The Transport Index went up by 1.7 per cent, mainly on account of higher air fares.

The Food and Nonalcoholic Beverages went up by 0.7 per cent, due to higher prices of fruit, vegetables and bread.

Higher rates charged by retirement homes underlay an increase of 0.4 per cent in the Miscellaneous Goods and Services Index.

Seasonal reductions in the prices of garments caused the Clothing and Footwear Index to go down by 5.7 per cent.

Lower prices of furniture and furnishings caused the Furniture, Household Equipment & Routine Maintenance of the House Index to decrease by 0.5 per cent.

The Health Index went down by 0.1 per cent, mainly due to lower prices of medical products, therapeutical appliances and equipment.

Lower prices of printed material caused the Recreational and Culture Index to decrease by 0.1 per cent.

Permalink: The annual inflation rate rises to 5.6% in July