Higher accommodation prices drive HICP up slightly in July

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Higher accommodation prices drive HICP up slightly in JulyIn July the Harmonised Index of Consumer Prices went up to 123.06 from 122.95, or 0.1%, on the previous month.

The figures from the National Statistics Office released today, show this primarily reflected an increase of 1.2 per cent in the Restaurants and Hotels Index, mainly due to seasonally higher prices for accommodation services.

The Transport Index went up by 0.8 per cent, mainly on account of higher airfares. An upward movement in the price of wine brought about an increase of 0.6 per cent in the Alcoholic Beverages and Tobacco Index.

Higher-priced mobile phones caused the Communication Index to rise by 0.3 per cent. The Recreation and Culture Index went up by 0.2 per cent, mainly as a result of higher prices for books.

The Furniture, Household Equipment and Routine Maintenance of the House Index edged up by 0.1 per cent, mainly due to an upward movement in the price of household appliances.

A similar rise was registered in the Miscellaneous Goods and Services Index as a result of higher fees for certain financial services.

Seasonal reductions in the prices of garments underlay a drop of 5.1 per cent in the Clothing and Footwear Index. A decrease of of 0.2 per cent was recorded in the Food and Non-alcoholic Beverages Index, mainly as a result of lower vegetable prices.

In July, the twelve-month moving average rate of inflation stood at 2.0 per cent and the annual rate stood at 0.9 per cent.

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