Inflation halves from September to October

The annual rate of inflation in October 2016 as measured by the Retail Price Index went down to 0.41%, from 0.78% registered in September 2016, National Statistics office figures show.

On a monthly basis, a rate of 0.10% was registered in October 2016, down from 0.27% registered in September 2016.

The main upward impacts on annual inflation were recorded in the Food Index (0.61 percentage points), the Beverages and Tobacco Index (0.21 percentage points) and the Household Equipment and House Maintenance Costs (0.10 percentage points). This was mainly due to higher prices of fruits, cigarettes and home furnishings respectively.

The Transport and Communication Index (0.48 percentage points), the Clothing and Footwear Index (0.32 percentage points) and the Recreation and Culture Index (0.09 percentage points) were the main downward impacts on annual inflation. This was mainly due to a reduction in the prices of fuel, garments and audio-visual equipment respectively.

The 12-month moving average rate declined from a rate of 0.74% registered in September 2016 to 0.66% in October 2016.