Inflation at 1% in September

Inflation showed little sign of moving from its low level in September according to the latest data released Wednesday by the Central Statistical Bureau (CSB).  

"Compared to September 2013 the average consumer price level in September 2014 rose by 1.0%. Prices of goods grew by 0.2%, and prices of services increased by 3.4%," the CSB said in its regular data update.

Compared to the previous 12 months, the average consumer price level over the last 12 months increased by 0.4%. The average level is generally regarded as a more useful indicator of the state of the economy. 

Compared to the previous month, consumer prices in September 2014 grew by 0.5%. The average level of prices of goods increased by 0.7%, while prices of services did not change.

"The greatest pressure on the average level of consumer prices in September 2014, as compared to September 2013, was put by increased prices of services related to housing, hotel and restaurant services, alcoholic beverages and tobacco, clothing and footwear, recreation and culture, as well as by a drop in prices of transport goods and services," the CSB said.

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