Higher prices for food & beverages pushes up annual rate of inflation

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Higher prices for food & beverages pushes up annual rate of inflationIn June, the annual rate of inflation as measured by the Harmonised Index of Consumer Prices stood at 1.1 per cent. A year earlier the annual rate was 0.7 per cent, the National Statistics Office reported today.

The largest upward impacts on annual inflation were brought about by the Food and Non- alcoholic Beverages Index (0.4 percentage points), Miscellaneous Goods and Services Index (0.2 percentage points) and Clothing and Footwear Index (0.2 percentage points). These were mainly due to higher prices for vegetables, services related to retirement homes and garments respectively.

The main downward impact was recorded in the Transport Index (0.2 percentage points), due to lower fuel prices.

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

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