Annual inflation rate up by 0.34%

In October, the annual rate of inflation as measured by the Retail Price Index stood at 0.35%, national statistics show. In October 2013, the annual inflation rate was 0.01%.

The main upward impacts were recorded in the Clothing and Footwear Index (0.36 percentage points), the Recreation and Culture Index (0.22 percentage points) and the Beverages and Tobacco Index (0.21 percentage points). This was mainly due to costlier garments, an increase in fees in respect of hire of venues, and higher prices of cigarettes respectively.
The largest downward impact on annual inflation was brought about by the Water, Electricity, Gas and Fuels Index (-0.63 percentage points), mainly due to lower electricity rates.
The twelve-month moving average rate was 0.33%.