Consumer Prices in July, as measured by the CPI, increased by 0.3% in the month. This is the same monthly increase as recorded in July of last year. The annual rate of inflation increased slightly to 5.0%, up from 4.9% in June.
The EU Harmonised Index of Consumer Prices (HICP) decreased by 0.2% in the month, compared to a decrease of 0.1% in July 2006. The annual rate of inflation, as measured by the HICP, decreased from 2.8% in June to 2.7% in July.
The most notable changes in the year were increases in Education (+4.5%). There were decreases in Clothing & Footwear (-1.4%) and Furnishings (-1.1%).
The annual rate of inflation for Services was 8.7% in July, while Goods increased by 0.6% in the year. The most significant monthly price changes were increases in Transport (+1.1%). These were partially offset by decreases in Clothing & Footwear (-8.4%) and Furnishings (-0.8%).
The main factors contributing to the monthly change were as follows:
• Clothing & Footwear and Furnishings both fell due to the traditional summer sales.
The CPI excluding tobacco index for July was up 0.3% in the month and up 4.7% in the year. The CPI excluding energy products index was up 0.2% since June and increased by 5.1% in the year. The CPI excluding mortgage interest decreased by 0.2% in the month and rose by 2.5% in the year.
Central Statistics Office
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