Inflation as measured by the HICP down to 0.5% in October

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Inflation as measured by the HICP down to 0.5% in OctoberIn October, the annual rate of inflation as measured by the Harmonised Index of Consumer Prices went down to 0.5 per cent, from 0.9 per cent registered in September 2016, the National Statistics Office said today.

On a monthly basis, the rate of -1.0 per cent was registered in October 2016, compared with a rate of -0.9 per cent registered in September 2016.

The largest upward impacts on annual inflation were registered in the Restaurants and Hotels Index (0.37 percentage points), the Food and Non-alcoholic Beverages Index (0.35 percentage points) and the Furniture, Household Equipment and Routine Maintenance of the House Index (0.18 percentage points). These were mainly due to higher prices of restaurant services (including cafeterias and the like), vegetables and furniture and home furnishings respectively.

The Recreation and Culture Index (0.38 percentage points), the Clothing and Footwear Index (0.21 percentage points) and the Transport Index (0.11 percentage points) registered the largest downward impacts on annual inflation, mainly reflecting lower prices for package holidays, garments and fuel respectively.

The twelve-month moving average rate for October 2016 decreased marginally to a rate of 1.0 per cent.

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