Inflation rate drops to 1 per cent

Wednesday, 15 Jan 2014, 12:41


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In December, the annual rate of inflation as measured by the harmonised index of consumer prices stood at 1.0 per cent, according to figures just issued by the National Statistics Office.

A year earlier the annual rate was 2.8 per cent.

The largest upward impacts on annual infl ation were recorded in the Alcoholic Beverages and Tobacco Index (0.4 percentage points), the Food and Non-alcoholic Beverages Index (0.3 percentage points), and the Recreation and Culture Index (0.2 percentage points).

These were mainly due to price rises in cigarettes, some vegetables and package holidays respectively.

The biggest downward impact was brought about by the Transport Index (-0.3 percentage points), mainly due to price reductions of motor vehicles.

In December 2013, the twelve-month moving average rate was 1.0 per cent.

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