Annual rate of inflation as measured by the HICP down to 1.2%

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Annual rate of inflation as measured by the HICP down to 1.2%In February, the annual rate of inflation as measured by the Harmonised Index of Consumer Prices went down to 1.2 per cent, from 1.4 per cent registered in January 2017, the National Statistics Office said today.

In February, the monthly rate of inflation rose to 0.4 per cent, up from negative 1.1 per cent in January.

The largest upward impacts on annual inflation were registered in the Food and Non-alcoholic Beverages Index (0.73 percentage points), the Furniture, Household Equipment and Routine Maintenance of the House Index (0.28 percentage points) and the Restaurants and Hotels Index (0.20 percentage points). These were mainly due to higher prices of vegetables, home furniture and accommodation services respectively.

The Recreation and Culture Index (0.19 percentage points), the Communication Index (0.11 percentage points) and the Clothing and Footwear Index (0.02 percentage points) registered the largest downward impacts on annual inflation, mainly reflecting lower prices for package holidays, mobile phones and garments respectively.

The twelve-month moving average rate for February remained at a constant rate of 1.0 per cent.

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