The annual rate of inflation as measured by the Retail Price Index last month stood at 0.71 per cent, the National Statistics Office said.

It said that, a year earlier the annual rate was 1.08 per cent.

The main upward impacts were recorded in the food, beverages and other goods and services indexes.

This was mainly due to higher prices for vegetables, cigarettes and insurances respectively.

The largest downward impacts on annual inflation were brought about by the water, electricity, gas and fuels, transport and communication and the household equipment and house maintenance costs indexes.

This was mainly due to lower electricity rates, a price reduction in fuels and discounted furniture prices.

The 12-month moving average rate was 0.29 per cent.