Consumer prices up 0.3% in August, inflation at 3.7%

The 12-month moving rate of inflation climbed to 3.7 percent in August from 3.3 percent in July, figures issued this morning by the NSO show.

The annual rate of inflation dropped marginally to 5.4 percent from 5.6 percent the month before, thus staying at the highest level it has been for several years.

The NSO said that in August the Harmonised Index of Consumer Prices rose by 0.3 percent over the previous month, mostly due to seasonal price rises of 2.4 percent in accommodation services. The index of food and non-alcoholic beverages rose by 0.6 percent owing to higher prices for fish, vegetables and confectionery. The transport index was up 0.5 percent owing to high air fares.

The clothing and footwear index dropped by 6.7 percent on account of seasonal price decreases in garments.