Price index sheds 0.5% in January

The Harmonised Index of Consumer Prices went down to 107.79 in January from 108.38 in December 2009, the NSO said today.

It said the 0.5 per cent decrease primarily reflected a drop of 19.2 per cent in the Clothing and Footwear Index due to seasonal price decreases in garments.

Seasonal downward shifts in the prices for accommodation services caused the Restaurants and Hotels Index to decline by 2.0 per cent.

Lower prices of motor cars caused the Transport Index to drop by 0.2 per cent. The Housing, Water, Electricity, Gas and Other Fuels Index went up by 8.9 per cent, mainly on account of higher electricity tariffs.

Upward shifts in the price of vegetables caused the Food and Non-alcoholic beverages Index to go up by 1.2 per cent.

The Miscellaneous Goods and Services Index registered an increase of 0.4 per cent, mainly on account of higher prices for hairdressing services.

The Health Index increased by 0.3 per cent, mainly due to higher prices of pharmaceutical products. An upward movement in the prices of spirits caused the Alcoholic beverages and Tobacco Index to go up by 0.2 per cent.

A similar rise was registered in the Furniture, Household Equipment and Routine Maintenance of the House Index, mainly due to higher fees for domestic and household services.

In January, the twelve-month moving average rate of inflation stood at 1.7 per cent from 1.8 in December, whereas the annual rate of inflation stood at 1.2 per cent, from -0.4 per cent in December.