The annual rate of inflation dropped in July compared to the same month last year, the NSO said today.

The Harmonised Index of Consumer Prices (HICP) stood at 0.6 per cent, from 0.9 per cent in July last year.

The largest upward impacts on annual inflation were brought about by the Restaurants and Hotels Index (0.6 percentage points), the Alcoholic Beverages and Tobacco Index (0.2 percentage points) and the Furniture, Household Equipment and Routine Maintenance of the House Index (0.2 percentage points).

This was mainly due to costlier restaurant services, cigarettes and household appliances.

The main downward impacts were recorded in the Housing, Water, Electricity, Gas and Other Fuels Index (-0.7 percentage points) and the Communication Index (-0.1 percentage point). This was mainly due to lower electricity rates and prices of mobile phones.

The 12 -month moving average rate was 0.8 per cent

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