NSO reports price index drop

The Harmonised Index of Consumer Prices in January went down to 115.89
from 117.57 in December, the National Statistics Office said today.

This primarily reflected a decrease of 15.5 per cent in the Clothing and Footwear Index due to seasonally lower prices for garments. The Transport Index went down by 2.5 per cent, mainly on account of lower airfares.

Seasonally lower-priced accommodation services resulted in a decrease of 0.9 per cent in the Restaurants and Hotels Index. The Alcoholic Beverages and Tobacco Index registered a drop of 0.4 per cent, mainly caused by a downward movement
in the prices of cigarettes. A similar decrease was recorded in the Recreation and Culture Index, mainly due to lower fees for sporting services.

The Furniture, Household Equipment and Routine Maintenance of the House Index fell by 0.3 per cent, mostly on account of cheaper carpets and floor-coverings.

Lower gas prices, and less expensive mobile phones caused both the Housing, Water, Electricity, Gas and Other Fuels Index, and the Communication Index, to
edge down by 0.1 per cent.

An upward shift in the price of hairdressing and personal grooming services was the main reason behind an increase of 0.9 per cent in the Miscellaneous Goods and Services Index.

The Food and Non-alcoholic Beverages Index rose by 0.3 per cent, mainly due to higher prices for fruit. Higher fees for medical and paramedical services caused the Health Index to advance by 0.2 per cent.

Inflation rate
In January, the 12-month moving average rate of inflation stood at 3.3 per cent and the annual rate at 2.4 per cent.