The Department of Statistics and Research announces that the Consumer Price Index for July 1998 decreased by 0,59 units or 0,48 per cent to 122,60 units compared to 123,19 in the previous month. This is mainly due to price discounts in clothing, footwear and furniture items. Increases have been recorded in the prices of certain fresh fruit and electricity.

2. The average rate of increase of the Index for the period January-July 1998 compared to the corresponding period of the previous year was 2,17% while the Index of July 1998 compared to the Index of July 1997 showed an increase of 1,36%.

3. The average rate of increase of the Index for the last twelve months (i.e. August 1997 - July 1998) compared to the preceding twelve months (i.e. August 1996 - July 1997) was 2,85%.