In January, the annual rate of inflation as measured by the Harmonised Index of Consumer Prices stood at 0.8 per cent. In January 2014, the annual rate was 0.9 per cent, the National Statistics Office has said.

The largest upward impacts on annual inflation were brought about by the Restaurants and Hotels Index (0.5 percentage points), the Food and Non-alcoholic Beverages Index (0.4 percentage points) and the Miscellaneous Goods and Services Index (0.2 percentage points). This was mainly due to higher prices for restaurant services, vegetables and gold items respectively.

The main downward impacts were recorded in the Housing, Water, Electricity, Gas and Other Fuels Index (-0.8 percentage points), the Furniture, Household Appliances and Routine Maintenance of the House Index (-0.1 percentage points) and the Communication Index (-0.1 percentage points). This was mainly due to lower electricity rates, discounted prices of carpets and cheaper mobile phones.

The twelve-month moving average rate was 0.8 per cent.

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