The annual rate of inflation in July stood at 0.7 percent, the lowest increase in the months under review since January 2018. Figures by the National Statistics Office show that the biggest rise was recorded in Clothing and Footwear, climbing to 3.7 percent from the same month last year. At the other end, Education registered the lowest rate at -9.6 percent.
Compared with June 2020, the Recreation and Culture Index experienced the highest gain of 2.3 percent, followed by Hotels and Restaurants at 1.2 percent. Clothing and Footwear, however, saw the biggest month-on-month drop at -6.9 percent.
The twelve-month moving average rate for July was 1.2 percent, continuing a gradual narrowing from 1.6 percent in January. The twelve-month moving average in the same month last year stood at 1.7 percent.