The annual rate of inflation in July went down to 0.69 per cent, down from 0.76 per cent registered in June 2016, as measured by the Retail Price Index.

The monthly inflation rate registered in July was down by 0.34 per cent, according to official figures.

The rate is down from 0.17 per cent registered in June 2016.

The main upward impacts on annual inflation were recorded in the Food Index (0.57 percentage points), the Beverages and Tobacco Index (0.27 percentage points) and the Other Goods and Services Index (0.13 percentage points).

This was mainly due to higher prices of restaurant services (including take-aways), cigarettes and insurance services respectively.

The Transport and Communication Index (0.57 percentage points), the Clothing and Footwear Index (0.10 percentage points) and the Water, Electricity, Gas and Fuels Index (0.04 percentage points) were the main downward impacts on annual inflation, mainly reflecting price reductions in fuel, garments and gas respectively (Table 5).

The twelve-month moving average rate was 0.83 per cent.

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