The annual rate of inflation as measured by the Retail Price Index in January was registered at 0.8%, down from 1.21% in December.

The 12-month moving average rate for January fell to 1.3%, from 1.37% in the previous month.

The largest upward impact on annual inflation mainly reflected higher prices of motor vehicles. The largest downward impact was attributed to lower prices of garments.

The Food Index registered an overall annual inflation rate of 1.55%, of which Food excluding restaurant services and take-aways registered an annual rate of 0.8%, while restaurant services and take-aways registered an annual rate of 3.58%.

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