Inflation drops

Inflation dropped by 2.4% in July, compared to a drop of 2.1% the previous month, the Statistical Service said. In July 2014, inflation had increased at a rate of 0.9%. Based on the Harmonised Index of Consumer Prices, the drop in July for housing, water, electricity and gas was -9.2%, compared to the same month last year, while inflation on food and non-alcoholic beverages also declined by -5.1%. Alcoholic beverages and tobacco, however, saw a rise of 1.9%.

Inflation in clothing and footwear decreased by -2.4%, in transport by -2.2% and in recreation and culture by -1.8%.