The National Statistics Office has said that in January, the annual rate of inflation as measured by the Harmonised Index of Consumer Prices stood at 0.9 per cent, a year earlier the annual rate was 2.4 per cent.

The largest downward impacts on the annual inflation were due to the Transport Index (-0.2 percentage points) and the Clothing and Footwear Index (-0.1 percentage points), mainly due to price reductions in airfares and clothing items respectively.

The main upward impacts were brought about by the Alcoholic Beverages and Tobacco Index (0.4 percentage points), the Furniture, Household Equipment and Routine Maintenance of the House Index (0.2 percentage points) and the Restaurants and Hotels Index (0.2 percentage points), mainly due to price rises of cigarettes, furniture items and served meals respectively.

The 12-month moving average rate was 0.9 per cent.

Permalink: January’s annual rate of inflation down to 0.9% from 2.4% in 2012