Price index down 1.1% in January - NSO

The consumer price index went down sharply in January, according to NSO data issued today.

It said that the Harmonised Index of Consumer Prices went down to 112.99
from 114.24 in December, a drop of 1.1 per cent.

This primarily reflected a decrease of 16.2 per cent in the Clothing and Footwear
Index due to seasonal price reductions in garments. The Recreation and Culture Index went down by 1.4 per cent on account of seasonally cheaper package tours.

Lower fees charged for services related to the maintenance and repair of dwellings, caused the Housing, Water, Electricity, Gas and Other Fuels Index to decline by 0.8 per cent. A similar decrease was registered in the Furniture, Household Equipment and Routine Maintenance of the House Index due to seasonally lower-priced household items.

The same decrease was also recorded in the Communication Index as a result of lower prices for mobile phones.

The Transport Index edged down by 0.1 per cent on account of seasonally cheaper air fares.

An upward movement in the price of vegetables was the main reason behind an increase of 1.0 per cent in the Food and Non-alcoholic Beverages Index. The Miscellaneous Goods and Services Index went up by 0.4 per cent, mainly on account of costlier jewellery.

Higher prices of cigarettes caused an increase of 0.2 per cent in the Alcoholic Beverages and Tobacco Index.

A similar increase was registered in the Health Index due to higher fees charged for medical and dental services. Higher restaurant prices caused the Restaurants and Hotels Index to edge up by 0.1 per cent.

In January, the twelve-month moving average rate of inflation stood at 2.3 per cent, whereas the annual rate of inflation stood at 1.5 per cent.