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In October 2007, the Harmonised Index of Consumer Prices went up by 0.1 per cent over the previous month. This primarily reflected an increase of 10.9 per cent in the Clothing and Footwear Index, mainly due to the introduction of the winter stock. An increase of 1.8 per cent was registered in the Education Index, mainly due to higher school fees.

The Food and Non-alcoholic Beverages Index went up by 0.8 per cent. This was mainly brought about by higher prices of dairy products. Higher prices of wines were the main factor behind a 0.1 per cent rise in the Alcoholic Beverages and Tobacco Index. An increase of 0.1 per cent in the Housing, Water, Electricity, Gas and Other Fuels Index was caused by price increases in services related to the maintenance and repair of dwellings.

The Miscellaneous Goods and Services Index went up by 0.1 per cent, mainly due to higher prices of child-minding services During the month under review, the Restaurants and Hotels Index decreased by 3.0 per cent mainly due to seasonal price reductions in accommodation services.

A dip in computer prices was the main factor underlying a 0.4 per cent decrease in the Recreation and Culture Index. A decrease of 0.1 per cent in the Furniture, Household Equipment and Routine Maintenance of the House Index was caused by decreases in the prices of household textiles.

In September, the twelve-month moving average rate of inflation stood at 0.3 per cent, whereas the annual rate stood at 1.6 per cent.