October inflation at 0.7%

In October, the annual rate of inflation as measured by the Harmonised Index of Consumer Prices stood at 0.7 per cent.

In the month under review, the annual rate of inflation stood at 0.7 per cent. A year earlier the annual rate was 0.5 per cent.

The largest upward impacts on annual inflation were brought about by the Restaurants and Hotels Index (0.6 percentage points), the Clothing and Footwear Index (0.3 percentage points) and the Alcoholic Beverages and Tobacco Index (0.2 percentage points). This was mainly due to costlier restaurant services, garments and cigarettes respectively.

The main downward impact was recorded in the Housing, Water, Electricity, Gas and Other Fuels Index (-0.7 percentage points), mainly due to lower electricity rates.

The twelve-month moving average rate was 0.8 per cent.