Inflation rate edges up
Price Index in December of last year thanks to jumps in the cost of Christmas airfares and the capital cost of cars.
The sector advanced 0.8 percent over November, 1999's figure with airfares rising by 3.8 percent and car costs edging up by 0.2 percent, the Statistics Department at the Ministry of Finance reported yesterday.
These figures, plus those from other sectors, attributed to the 0.1 percent climb in the annual rate of inflation from 2.7 percent in November figure to 2.8 percent in December.
And consumer prices, on average, advanced 0.1 percent also as the all-items index rose from 111.8 index points in November, 1999, to 111.9 in December.
Meanwhile, the annual rate of inflation for 1999 was 2.4 percent.
Other sectors showing increases were Rent and the Clothing and Footwear sectors.
The rent sector advanced 0.2 percent due to upward movement in both controlled (0.1 percent) and decontrolled rented properties (0.3 percent). The clothing and footwear sector also climbed 0.2 percent with the average cost of dry cleaning and shoe repair climbing 2.1 percent and 0.8 percent respectively.
Elsewhere three sectors showed declines.
Fuel and Power dropped 0.8 percent after the variable fuel adjustment clause plummeted by 7.4 percent resulting in lower electricity costs for households during the month of December.
And both the Food and Health and Personal Care sectors slipped 0.3 percent.
In the food sector, price declines were noted for fresh meats, vegetables and fruits while in the health and personal care sector, prescription medicines fell 4.9 percent.
The remaining sectors of the index -- Tobacco and Liquor, Household Goods, Services and Supplies and Education, Recreation and Reading -- were all unchanged in December.
BUSINESS BUC