Breaking News: Inflation falls to 1.2 percent
The rate of inflation stood at just over one percent in June, according to statistics released this afternoon by Government.
However, the cost of food increased by more than five percent in June compared to the same month last year.
A report from the Department of Statistics showed that inflation was 1.2 percent in June, compared to 1.4 percent in May.
The report said the food sector was one of the the largest contributors to the rate of inflation adding: “On average, the cost of food items increased 5.2 percent year-over-year.
“The health and personal care, and rent sectors also impacted strongly on the annual rate of inflation, as price shifts in these sectors were 6.6 percent and two percent respectively.”
* Full story in tomorrow’s Royal Gazette.