In February the Retail Price Index increased to 112.89 from 112.42 in January, according to National Statistics Office figures released yesterday.

In February 2008, the Retail Price Index went up by 0.42 per cent over the previous month. This primarily reflected an increase of 4.76 per cent in the Clothing and Footwear Index, mainly due to seasonal price increases.

Higher prices for medical services comprised the main cause behind an increase of 0.83 per cent in the Personal Care and Health Index. The Food Index increased by 0.42 per cent, mainly on account of higher prices of vegetables, pasta, and dairy products. Higher fees charged for veterinary services underlie an increase of 0.15 per cent in the Other Goods and Services Index.

A registered decrease of 0.53 per cent in the Beverages and Tobacco Index was mainly brought about by price reductions in beverages.

In February the twelve-month moving average rate of inflation stood at 1.64 per cent, whereas the annual rate stood at 3.70 per cent.