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Inflation falls 0.5 percent

The consumer price index (CPI) released by the Department of Statistics shows that consumers paid 1.3 percent more in August than they did a year ago for the basket of goods and services included in the Consumer Price Index (CPI).

The rate of inflation decreased 0.5 percentage points from the 1.8 percent recorded in July 2013.

The report stated: “The CPI also showed that between July and August 2013, the all-items index increased to 122.1 from the 122.0 index points measured in July. This means that the basket of goods and services that cost $100.00 in April 2006 now cost $122.10.

“The health and personal care sector had the strongest impact on the twelve-month increase in the Consumer Price Index. The total cost of the health and personal care basket increased 9.1 percent year-over-year.

“The food and education, recreation and reading sectors also had a significant impact on the annual rate of inflation, as price shifts in these sectors were 2.9 percent and 2.5 percent, respectively.”

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Published September 27, 2013 at 4:06 pm (Updated September 27, 2013 at 4:06 pm)

Inflation falls 0.5 percent

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