CSO: Inflation rate at 4 per cent in February

THE Central Statistical Office (CSO) has reported the inflation rate for February 2022 (measured as the percentage change in the average All Items Index for the period January to February 2022/January to February 2021) at being four per cent.

This represents an increase from 3.8 per cent which was recorded in the previous period (January 2022/January 2021). The inflation rate for the comparative period (January to February 2021/January to February 2020) was 0.9 per cent, the CSO said in a release on Monday.

The report also detailed the CSO’s index of retail prices.

The index for food and non-alcoholic beverages increased by 1.2 per cent between January and February, from 128.1 price points to 129.6 price points.

The CSO said the increase in the cost of fresh whole chicken, white flour, snacks, rice, carrots, crackers, frozen chickens, full cream milk and Milo contributed to the rise in price points, but those increases were offset by general decreases in the price of other items such as tomatoes, pumpkin, hot pepper, chive, powdered milk, potatoes, celery, sweet pepper, mixed fresh seasoning and sweet potatoes.

“A further review of the data for February 2022, compared with January 2022, reflected an increase in the sub-indices for alcoholic beverages and tobacco of 0.7 per cent and health of 0.1 per cent.

However, a decrease was noted in the sub-index for clothing and footwear of 0.1 per cent. All other sections remained unchanged, the CSO said.

The index of retail prices is calculated from the prices of various goods collected for the month.