The annual rate of inflation in July stood at -0.05 per cent, down from 2.08 per cent in the same month last year, the NSO said today.

The largest downward impacts on annual inflation were brought about by the Water, Electricity, Gas and Fuels Index (-0.62 percentage points) and the Transport and Communication Index (-0.25 percentage points). This was mainly due to lower electricity rates and air fares respectively.

The main upward impacts were recorded in the Recreation and Culture Index (0.30 percentage points), the Beverages and Tobacco Index (0.22 percentage points) and the Household Equipment and House Maintenance Costs Index (0.12 percentage points) mainly due to higher prices of newspapers, cigarettes and household appliances
respectively.

The twelve-month moving average rate was 0.48 per cent.

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