In August 2008, the Harmonised Index of Consumer Prices increased by 0.3 per cent over the previous month. This primarily reflected an increase of 2.4 per cent in the Restaurants and Hotels Index due to seasonal price rises in accommodation services.

The Food and Non-alcoholic Beverages went up by 0.6 per cent, mainly on account of higher prices of fish, vegetables and confectionery items. Higher air fares brought about an increase of 0.5 per cent in the Transport Index. Increases in the prices of jewellery, clocks and watches caused the Miscellaneous Goods and Services Index to go up by 0.4 per cent.

The Clothing and Footwear Index went down by 6.7 per cent on account of seasonal price decreases in garments. A decrease of 0.1 per cent was registered in the Furniture, Household Equipment & Routine Maintenance of the House Index, mainly due to lower prices of household appliances. Lower prices of outdoor recreational equipment underlay a decrease of 0.1 per cent in the Recreation and Culture Index.

In August, the twelve-month moving average rate of inflation stood at 3.7 per cent, whereas the annual rate of inflation stood at 5.4 per cent.

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