Annual inflation rate up by 0.6%

In July, the annual rate of inflation as measured by the Harmonised Index of Consumer Prices stood at 1.2%, up from 0.6% a year earlier.

National statistics show that the largest upward impacts on annual inflation were brought about by the Food and Non-alcoholic Beverages Index (0.4 percentage points), Miscellaneous Goods and Services Index (0.2 percentage points) and Recreation and Culture Index (0.2 percentage points).

These were mainly due to higher prices for vegetables, services offered by retirement homes and subscriptions at fitness centres and gymnasia respectively.

The main downward impact was recorded in the Transport Index (0.3 percentage points), due to lower fuel prices.

The twelve-month moving average rate was 0.8%.