Malta”s annual rate of inflation increased to 1% in May 2016

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Maltas annual rate of inflation rose to 1% in May 2016In May, the annual rate of inflation as measured by the Harmonised Index of Consumer Prices went up to 1.0 per cent, from the 0.8 per cent registered in April 2016.

On a monthly basis, the rate of 1.0 per cent was registered in May 2016, and shows a decrease from the 2.6 per cent registered in April 2016.

The largest upward impacts on annual inflation were registered in the Restaurants and Hotels Index (+0.47 percentage points), the Food and Non-alcoholic Beverages Index (+0.36 percentage points) and the Furniture, Household Equipment and Routine Maintenance of the house Index (+0.24 percentage points). These were mainly due to higher prices of restaurant services (including cafeterias and the like), vegetables and cigarettes respectively.

The Recreation and Culture Index (-0.29 percentage points), the Transport Index (-0.24 percentage points) and Clothing and Footwear Index (-0.06 percentage points) registered the largest downward impacts on annual infl ation, mainly refl ecting lower prices for package holidays, fuel and garments respectively.

The twelve-month moving average rate stands at 1.2 per cent.

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