In December 2016, the annual rate of inflation as measured by the Retail Price Index went up to 1.06 per cent, from 0.68 per cent registered in November 2016.

On a monthly basis, a rate of 0.67 per cent was registered in December 2016, up from

0.39 per cent registered in November 2016.

The main upward impacts on annual inflation were recorded in the Food Index (0.97 percentage points), the Beverages and Tobacco Index (0.21 percentage points) and the Household Equipment and House Maintenance Costs (0.21 percentage points). This was mainly due to higher prices of vegetables, cigarettes and home furniture respectively.

The Transport and Communication Index (0.42 percentage points), the Clothing and

Footwear Index (0.27 percentage points) and the Water, Electricity, Gas and Fuels Index (0.01 percentage points) were the main downward impacts on annual inflation. This was mainly due to a reduction in the prices of fuel, garments and gas respectively.

The twelve-month moving average rate for December 2016 remained unchanged to that of November, with a rate of 0.64 per cent.