Householders enjoyed a significant saving on their electricity bill, with the fuel adjustment clause falling 20 percent, as the rate of inflation fell to its lowest level for eight months, according to the latest figures released by Government.

Consumers paid 4.4 percent more for goods and services in February 2009 than a year ago, but 0.8 percent less than the 5.2 percent measured in January, as revealed in the Department of Statistics' Consumer Price Index. The average cost of goods and services dropped 0.5 percent between January and February.

This was despite the cost of food increasing 8.3 percent year-over-year — the biggest driver behind the 12-month rise, led by a rise in the price of beef steaks, fresh fruits and vegetables, allied to price shifts of 2.6 percent and 6.8 percent for the rent and education, recreation and reading sectors respectively.

Shoppers saw the price of food rise by 0.3 percent on average, with frozen green beans (5.5 percent), baby food (2.9 percent) and cookies (3.1 percent) the key contributors.

Meanwhile, the increase in rental costs was attributed largely to the 0.5 percent rise in rent-controlled properties, however, rental units not subject to rent control were unchanged for the month.

Drinkers and smokers experienced a 0.3 percent increase overall for their favourite tobacco and liquor products, reflecting the advance in the average price of wine (0.4 percent) and spirits (0.5 percent).

Householders also found they were paying out more for big-ticket appliances such as refrigerators, washers and dryers, as the household goods, services and communications sector climbed by 0.2 percent.

On the flip side, home owners enjoyed a decline in the price of fuel, with the fuel and power sector plummeting 10.1 percent in February, as they were passed on the delayed effects of lower world prices for a barrel of oil.

Elsewhere, the cost of foreign travel abated during the month of February, while lower air fares and hotel rates caused the transport and vehicle sector to drop 1.4 percent during the same period.

The clothing and footwear and health and personal care sector remained unchanged in February.