Inflation in April at 2.9%

In April, the Harmonised Index of Consumer Prices went up by 2.9 per cent over the previous month.

This primarily reflected an increase of 12.5 per cent in the Restaurants and Hotels Index, mainly due to seasonally higher prices for accommodation services. An increase of 7.9 per cent was registered in the Clothing and Footwear Index, mainly on account of the introduction of the Spring collection.

Higher tuition fees brought about an increase of 2.8 per cent in the Education Index. The Recreation and Culture Index went up by 1.2 per cent as a result of higher prices for package holidays.

An increase of 1.1 per cent was registered in the Alcoholic Beverages and Tobacco Index, mainly as a result of an upward movement in the price of cigarettes. Costlier furniture underlay an increase of 0.9 per cent in the Furniture, Household Equipment and Routine Maintenance of the House Index.

Higher fuel prices brought about an increase of 0.3 per cent in the Transport Index. Similar increases were registered in the Communication Index and the Food and Non-alcoholic Beverages Index, mainly due to higher postal charges and fruit prices respectively. The Housing, Water, Electricity, Gas and Other Fuels Index edged up by 0.1 per cent due to higher fees charged for services related to the maintenance of dwellings.

In April, the twelve-month moving average rate of inflation stood at 2.9 per cent and the annual rate stood at 0.9 per cent.