CPI inflation up 3.2%

The rate of inflation as measured by changes in the Consumer Price Index jumped 3.22% in July 2006 compared to July 2005, but on a monthly basis, the CPI edged lower, the Statistics Department announced.

The Consumer Price Index for July 2006 decreased by 1,34 units or 1,30% to 101,53 units compared to 102,87 in June 2006. This is mainly due to decreases in the prices of clothing, footwear and furnishings due to summer sale discounts as well as to decreases in the prices of certain fresh vegetables. Increases have been recorded in the prices of petroleum products and air fares.

For the period January-July 2006 the CPI recorded an increase of 2,92% compared to the corresponding period of 2005.