In May the Retail Price Index increased to 114.58 from 114.08 in April, the National Statistics Office said yesterday.

In May 2008, the Retail Price Index went up by 0.44 per cent over the previous month.

This primarily reflected an increase of 1.50 per cent in the clothing and footwear index, mainly due to seasonal price rises in garments. The transport and communication index went up by 1.09 per cent, mainly on account of higher air fares. The beverages and tobacco index registered an increase of 0.28 per cent, which was brought about by an increase in the prices of non-alcoholic beverages. The water, electricity, gas and fuels index increased by 0.26 per cent, mainly on account of costlier liquid fuels.

A 0.20 per cent rise in the food index was reflected in higher prices of items of fruit, as well as of dairy and wheat products. The personal care and health index shifted upwards by 0.17 per cent, mainly on account of price increases in hygienic articles and toiletries. The housing index increased by 0.10 per cent, affected by increases in the prices of materials used in construction work. Marginal increases were also recorded in the recreation and culture index and also in the household equipment and house maintenance cost index.

The other goods and services index showed a decrease of 0.17 per cent, mainly recorded in lower prices of timepieces.

In May the 12-month moving average rate of inflation stood at 2.60 per cent, whereas the annual rate stood at 3.75 per cent.