Price index rises by 0.3 per cent

The Harmonised Index of Consumer Prices went up to 108.13 last month from 107.79 in January, the NSO said today.

It said the 0.3 per cent increase was mainly the result of an increase of 5.4 per cent in the Clothing and Footwear Index due to seasonal price increases in garments.

A seasonal upward movement in the prices of plants and flowers caused the Recreation and Culture Index to go up by 0.8 per cent. Higher fees for social protection services caused the Miscellaneous Goods and Services Index to increase by 0.6 per cent.

Higher prices of fuels were the main reason behind a rise of 0.4 per cent in the Transport Index. The Health Index moved up by 0.1 per cent, mainly due to higher prices of pharmaceutical products.

The Communication Index registered a decrease of 1.9 per cent, mainly on account of lower priced telephone equipment and telephone services. A downward movement in the prices of served meals caused the Restaurants and Hotels Index to go down by 0.3 per cent.

A slight decrease of 0.1 per cent was registered in the Furniture, Household Equipment and Routine Maintenance of the House Index, mainly due to lower prices for non-durable household goods.

In February, the 12-month moving average rate of inflation stood at 1.5 per cent (January 1.7), whereas the annual rate of inflation stood at 0.7 per cent (from 1.2 in January).

Euro area annual inflation was 0.9% in February 2010, down from 1.0% in January. A year earlier the rate was 1.2%. Monthly inflation was 0.3% in February 2010.

EU annual inflation was 1.4% in February 2010, down from 1.7% in January. A year earlier the rate was 1.8%. Monthly inflation was 0.3% in February 2010.