Fuel price drop slows inflation
figures released by Government on Thursday.
During the month, households experienced a 0.1 percent decline in the average cost of goods and services in the consumer price index (CPI) "shopping basket''. The all-items index fell to 107 from 107.1 for the month.
The largest change in price movement during the month was the fuel & power sector which declined 1.4 percent. It came as a result of a 15 percent drop in the fuel adjustment clause between January and February, leading to a 1.5 percent month-over-month drop in electricity costs.
Tobacco & liquor and the transport & vehicles sectors declined 0.2 percent, as a result of the 0.8 percent average decline in the price of tobacco, and as premium (-0.9 percent) and mixed fuel (-0.8 percent) at the pump both fell.
In other sectors, education, recreation & reading contracted 0.1 percent, partially as a result of the decline in the cost of boat fuel.
Clothing & footwear rose 0.3 percent as the cost of dry cleaning increased 4.1 percent. The health & personal care sector increased 0.1 percent.
In the remaining sectors of the index, average prices for food, rent and household goods, services & supplies remained stable, showing no change from previous months.