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Inflation rate inches higher

Consumer Price Index rose to two percent for the 12 months to January, up from 1.9 percent for the comparative period to December.

The Ministry of Finance's Statistics Department reported yesterday that consumer prices on average advanced 0.2 percent in the first month of the year, as the all-items index rose from 106.9 points to 107.1 in January.

The largest monthly price change was charted in the food sector, which increased 0.4 percent during the month, reflecting in the main, higher prices in the seasonal fresh fruit and vegetable group.

Officials said this was partly due to shortages at several grocery outlets caused by adverse weather conditions overseas and a delayed shipment of fresh produce during the month.

The significant price increases included a 25 percent increase in lettuce, an 18.2 percent increase in green peppers, a 14 percent increase in the price of cucumbers and an 8.3 percent increase in the price of black grapes.

Other notable changes included a 2.7 percent rise in the cost of tomatoes, a celery increase in price of 1.8 percent, a rise in the cost of oranges by 2.2 percent and a 1.9 percent increase in the price of cantaloupes.

The rent sector rose 0.2 percent, while education, recreation & reading advanced 0.1 percent.

The tobacco & liquor sector posted a decline of 0.2 percent in average prices.

The cost of tobacco decreased 0.8 percent month over month but was partially offset by a 0.1 percent increase in the price of beer and wines.

The remaining sectors of the index remained relatively static, showing no price movement in the month. They included clothing & footwear, fuel & power, household goods, services and supplies, transport & vehicles and health & personal care.