Price index down slightly in August, inflation remains high

The Retail Price Index went down fractionally in August, primarily reflecting a drop of 6.64 percent in the prices of clothing and footwear, the National Statistics office said this morning. The 12-month moving average rate of inflation rose to 3.54...

The Retail Price Index went down fractionally in August, primarily reflecting a drop of 6.64 percent in the prices of clothing and footwear, the National Statistics office said this morning.

The 12-month moving average rate of inflation rose to 3.54 percent from 3.28 percent in July but the annual rate of inflation slipped to 4.42 percent from 4.80 percent in July, still considerably higher than it has been for the past few years.

The NSO said the prices of beverages rose by 1.18 percent last month while food was up by 0.76 percent, a consequence of higher prices for fish, served meals and take-aways.

Higher air transport costs pushed the transport index up by 0.31 percent.

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