Clothes' prices push retail price index down 0.65%

In July, the Retail Price Index went down by 0.65%. This decrease primarily reflected a decrease of 10.65% in the Clothing and Footwear Index due to seasonally lower prices of garments.

A reduction in gas prices caused the Water, Electricity, Gas and Fuels Index to also decline by 0.62%. A downward movement in the price of fruit underlay a decrease of 0.47% in the Food Index while discounted prices of household textiles and carpets caused the Household Equipment and House Maintenance Cost Index to go down by 0.25%.

Higher fees charged for house maintenance works brought about an increase of 1.59% in the Housing Index.

The Beverages and Tobacco Index went up by 0.35%, mainly due to an upward movement in the prices of non-alcoholic beverages and wines.

An increase of 0.10% was registered in the Transport and Communication Index, mainly resulting from costlier air and sea transport services.

In July, the twelve-month moving average rate of inflation stood at 2.36 per cent, whereas the annual rate stood at 2.11%.