Inflation rises to 3.1% in April

Consumer price inflation picked up in April to reach 3.1% compared with the same month of 2004, compared with a rate of 2.9% in March.

On a month-on-month basis, the consumer price index rose by 0.9% to 120.67, its highest monthly rise since October.

According to the Statistical Service CYSTAT, the price increase were mainly owing to increases in the prices of clothing, footwear, petroleum products and electricity. Decreases have been recorded in the prices of certain fresh fruit.

Analysis shows that the highest increase compared with the previous month was recorded in the category of clothing and footwear, which rose by 8.3% compared with the previous month.

This category also rose strongly in March, by 9.2%, which may reflect increasing demand in the retail sector.

The next highest rise was recorded by transport, up 1.5% on the previous month in April, and probably the result of high oil prices.

Industry prices rise 6.7% in Q1

Meanwhile, the Industrial Output Price Index for March 2005, reached 114.8 units (Base 2000=100).

For March 2005 the Index recorded an increase 0.5% compared to February 2005, while for the period January-March 2005, the index increased by 6.7% as compared to January

March 2004.