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.
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R.Gauci
Feb 23rd 2010, 14:40
Are these Price index figures at anytime analised deeply by some Govermental expert ?
If yes what action is taken to seek that the normal working class which is majority of the Maltese population is having enough purchasing power to make it till the end of the month and able to save some money for the rainy days ahead?!
I am working and living in Ireland but I visit Malta every 3 months and can't understand how most of everyday needs mainly foodstuffs which I buy from an International Supermarket Brand (which now you also find in Malta) cost cheaper or the same here in Ireland where the wages are at least double of those in Malta and this is just an example like with like!!
Don't come and tell me the usual fairytale of high freight charges cause Malta is a small Island as we were promised a different thing by joining the EU and the eurozone !!
It is clearly that prices are being fixed by a cartel of importers and something is not working! When is the National Agency for Consumer rights going to start working instead of NECC do you remember that promise dear Primeminister??!!
Henry J Bonett
Feb 23rd 2010, 12:29
For Goodness' sake let us stop playing with numbers, except just for the fun of it, if one cares. A drop of 19.2 per cent in clothing in one month is hardly likely to affect the pocket, or life, of those on the breadline and below. However, 8.9 per cent increase on water, electricity and gas, alone, is certainly devastating to them.
mario gellel
Feb 23rd 2010, 12:07
What kind of Pice index is this? Decrease on cloths and footwear due to seasonal sales.
Increase on any other daily needed product.
AND THIS IS CALLED A HARMONIZED INDEX PRICE DECREASE???
HALLUNA HA NGHIXU, MAN.