CPI eases to 3.02% in June

Having hit 3.13% in May, consumer price inflation eased a tiny bit to 3.02% in June compared with the same month of 2005.

The month-on-month inflation rate was 0.13%, compared with 0.09% in May. The Statistical Service reported that month-on-month inflation was mainly the result of increases in the prices of fresh vegetables, certain clothing items and medicine.

Indeed, prices of health products showed an increase of 1.6% on the previous month, although a higher increase was recorded by prices of alcohol and tobacco, up 1.9%.

Decreases were recorded in the prices of certain fresh fruit and fresh lamb and goat meat, the Statistical Service reported, and this was reflected in a 0.5% drop in the price of food and non-alcoholic beverages.

The price of transport also recorded a small decrease of 0.1%, although one can expect this to rise after the big jump in airport fees from July 1.

For the period January-June 2006 the CPI recorded an increase of 2.88% compared to the corresponding period of 2005.