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Inflation creeping up, higher than in eurozone

Restaurant prices driving up index

Photo: Shutterstock

Photo: Shutterstock

In April 2018, the annual rate of inflation as measured by the Harmonised Index of Consumer Prices (HICP) was registered at a rate of 1.4 per cent, up from 1.3 per cent in March 2018.

The National Statistics Office reported on Wednesday that the largest upward impact on annual inflation was recorded in the Restaurants and Hotels Index (0.61 percentage points), mainly reflecting higher prices of restaurant services (including cafés and similar outlets).

The largest downward impact was recorded in the Clothing and Footwear Index (0.05 percentage points), attributed to lower prices of garments.

In the meantime, Eurostat reported that the eurozone annual inflation rate was 1.2 per cent in April 2018, down from 1.3 per cent in March.

The lowest annual rates were registered in Cyprus (-0.3%), Ireland (-0.1%) and Portugal (0.3%).

The highest annual rates were recorded in Romania (4.3%), Slovakia (3.0%) and Estonia (2.9%).

Compared with March 2018, annual inflation fell in 12 member states, remained stable in one and rose in 14.

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