Inflation, 12-month average at 1.23%

In January, the annual rate of inflation stood at 0.65 per cent.

In the month under review, the annual rate of inflation stood at 0.65 per cent.

A year earlier the annual rate was 2.37 per cent. The largest downward impacts on annual inflation were recorded in the Transport and Communication Index (-0.24 percentage points), the Clothing and Footwear Index (-0.20 percentage points) and the Other Goods and Services Index (-0.07 percentage points), mainly due to price reductions in airfares, clothing and jewellery items respectively.

The biggest upward impacts were recorded in the Beverages and Tobacco Index (0.40 percentage points), the Recreation and Culture Index (0.23 percentage points) and the Household Equipment and House Maintenance Cost Index (0.17 percentage points), mainly due to price rises in cigarettes, educational expenses and furniture items respectively.

The twelve-month moving average rate was 1.23 per cent.