Central Statistical Office: Inflation went down in February

The Central Statistical Office in its release of the Index of Retail Prices for February, said inflation went down year on year from 8.3 per cent to eight per cent for the period January to February 2022/January to February 2023.

For the same period in 2021, the inflation rate was four per cent.

CSO said the all-items index of retail prices – the aggregate pricing collected for the month of February – was 123.1. This represented a decrease of .5 points or four per cent from January.

Food and non-alcoholic beverages decreased from 150.3 in January to 147.8 in February.

The CSO said the fall in prices of tomatoes, pumpkin, celery, chives, whole fresh chickens, mixed fresh seasoning, carrots, cucumbers, sweet peppers and cabbage were the main contributors to the decline. However items such as chilled or frozen beef, fresh beef, chilled or frozen pork, sweet potatoes, ochroes, fresh carite, oranges, evaporated milk, fresh king fish and melon increased.

The price of clothing and footwear also reduced by .2 per cent.

Alcohol and tobacco, as well as health increased by .3 per cent.