October’s Retail Price Index up due to higher clothes prices
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October’s Retail Price Index went up by 0.88 per cent, according to figures released by the National Statistics Office today. This primarily reflected an increase of 4.15 per cent in the Clothing and Footwear Index, mainly due to seasonally higher prices of garments. An upward movement in the prices of vegetables, fruit and fish caused the Food Index to go up by 2.70 per cent. Higher prices for non-durable household goods underlay an increase of 0.74 per cent in the Other Goods and Services Index. The Household Equipment and House Maintenance Cost Index edged up by 0.58 per cent, mainly on account of a rise in the prices of household utensils. Higher school and tuition fees caused the Recreation and Culture Index to go up by 0.36 per cent. An increase of 0.13 per cent was recorded in the Beverages and Tobacco Index, mainly due to price rises in non-alcoholic beverages.
Seasonally lower airfares caused the Transport and Communication Index to decline by 0.26 per cent. A drop of 0.22 per cent was registered in the Housing Index reflecting a decrease in the price of materials used for house maintenance. The Water, Electricity, Gas and Fuels Index went down by 0.21 per cent due to lower gas prices.
In October, the twelve-month moving average rate of inflation stood at 2.82 per cent, whereas the annual rate stood at 2.91 per cent.