In July, the annual rate of inflation as measured by the Retail Price Index stood at -0.05 per cent. The National Statistics Office said that a year earlier the annual rate was 2.08 per cent and in June it stood at -0.10 per cent.

The largest downward impacts on annual inflation were brought about by the Water, Electricity, Gas and Fuels Index (-0.62 percentage points) and the Transport and Communication Index (-0.25 percentage points). This was mainly due to lower electricity rates and air fares respectively.

The main upward impacts were recorded in the Recreation and Culture Index (0.30 percentage points), the Beverages and Tobacco Index (0.22 percentage points) and the Household Equipment and House Maintenance Costs Index (0.12 percentage points) mainly due to higher prices of newspapers, cigarettes and household appliances respectively.

The twelve-month moving average rate was 0.48 per cent.

Permalink: July’s annual rate of inflation as measured by the RPI down to -0.05%