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Inflation remains subdued in July

Thursday, August 07 11:13:49

Price inflation, as measured by the CPI, were 0.3pc higher in July compared with July 2013 and fell marginally by 0.2pc compared to the previous month.

The most notable changes in the year were increases in Education (+4.5pc), Alcoholic Beverages and Tobacco (+3.7pc), Miscellaneous Goods and Services (+2.8pc) and Restaurants and Hotels (+2.5pc). There were decreases in Communications (-5.1pc), Clothing and Footwear (-3.6pc), Furnishings, Household Equipment and Routine Household Maintenance (-3.3pc) and Food and Non-Alcoholic Beverages (-3.0pc).

Consumer Prices in July, as measured by the CPI, decreased by 0.2pc in the month. This compares to a decrease of 0.1pc recorded in July of last year. The most significant monthly price changes were decreases in Clothing and Footwear (-7.0pc), Miscellaneous Goods and Services (-1.1pc) and Furnishings, Household Equipment and Routine Household Maintenance (-1.1pc). There were increases in Transport (+1.8pc), Restaurants and Hotels (+0.5pc) and Alcoholic Beverages and Tobacco (+0.4pc).

The divisions which caused the largest upward contribution to the CPI in the year were Restaurants and Hotels (+0.39pc), Miscellaneous Goods and Services (+0.34pc) and Alcoholic Beverages and Tobacco (+0.22pc).

The divisions which caused the largest downward contribution to the CPI in the year were Food and Non-Alcoholic Beverages (-0.36pc), Furnishings, Household Equipment and Routine Household Maintenance (-0.16pc) and Communications (-0.16pc).