The Consumer Price Index of the Central Statistics Office shows that prices have increased by 0.1% between August and September 2021. Mainly driven by a rise in food products (+0.1%), university fees in private institutions (0.1%), and goods and services (0.2%), the index shows a slight increase in the prices of products and services imported from abroad. The prices of products produced locally in the likes of vegetables have decreased by 0.3%. The index value increased from 111.6 points in August, to 111.7 points in September 2021.
The most noticeable areas in which prices have soared between August and September 2021 are education (+2.5%) and furnishing and household equipment (+1.4%). Prices of food and non-alcoholic beverages (-0.6%) and alcoholic beverages and tobacco (-0.2%) have gone down.
Compared to September 2020, inflation has increased significantly. Year-on-year inflation worked out to 5.4% in September 2021, compared to 2.6% in September 2020.
Average inflation over the last 12 months (September 2020-September 2021) has also risen. Headline inflation for the 12-months ending September 2021 worked out to 3.2%, compared to 1.9% for the 12-months ending September 2020.
