The February inflation rate has edged up to 2.4 percent, latest Government figures show.

This compares with 2.3 percent in January - and 2.8 percent in February 2001.

According to yesterday's statistics, the cost of electricity plummeted in February. The Fuel Adjustment Clause (FAC) fell 17.9 percent in February, lowering the cost of electricity to households by 1.6 percent compared to January. Compilers of the CPI, the Department of Statistics said: "The fall in the FAC was due to the lower trading price of a barrel of oil on the world market."

During February, consumer prices, or inflation increased 0.2 percent with the all-items index rising from 118.0 points in January to 118.2 in February. The cost of goods and services in the Consumer Price Index increased 2.4 percent compared to the same period last year. Among the main sectors that comprise the index, fuel and power posted the strongest price movement for the third consecutive month with a decline of 1.4 percent.

The Food and Beverage Index increased 0.1 percent in February. Notable price movements for selected grocery items included a 1.5 percent increase for broccoli, oranges up 1.5 percent, fresh wahoo up 1.9 percent, Roman Meal wheat loaf up 3.8 percent and carrots up 6.4 percent. On the down side, potatoes decreased 0.7 percent, cod-fish and sweet pears each fell 1.1 percent, onions fell 1.5 percent, green peppers fell 5.3 percent, black grapes fell 7.4 percent and cucumbers 7.8 percent.

Rents costs advanced 0.4 percent during the month with the Rents costs advanced 0.4 percent during the month with the rental value of controlled and noncontrolled properties increasing 0.3 and 0.4 percent respectively.

Clothing and footwear increased 0.1 percent which was directly attributed to an increase in the cost of women's shoe repair.

Tobacco and liquor prices increased fractionally by 0.1 percent in February although a downward movement in alcohol was outweighed by a 0.2 percent increase in the cost of cigarettes.

The household goods, services and supplies sector edged up 0.1 percent. Within the subcomponents of this sector, the average cost of household supplies such as foodwraps, trash bags, cleaning materials and detergents increased by 0.5 percent. This increase, however, was offset partially by a 0.3 percent decline in the average price of entertainment equipment.

Transport and vehicles advanced 0.6 percent in February with the average cost of premium fuel and airfares increasing 2.1 percent and 1.7 percent respectively. In contrast, there was a 1.5 percent decline in the price of mixed fuel.

Education, recreation and reading advanced 0.1 percent. Households paid more for recreation as increases were recorded for toys, games and hobbies (2.2 percent) boat fuel (2.1 percent) and pleasure boats (0.9 percent).

Health and personal care remained relatively static in February with consumers experiencing higher prices for self-prescribed medicines and toiletries, cosmetics and perfumes, both of which increased by 0.2 percent. However, the increase was not strong enough to impact price movement at the sector level.