Consumer price index, 15 March 2005

The CPI stood at 114.2 (1998=100) in March 2005 compared with 113.1 at the same time last year, an increase of 1.0 per cent. The year-to-year growth in the CPI-ATE was 0.7 per cent in March.

Higher prices of clothing and footwear

The CPI increased by 0.4 per cent from February to March this year. Following the seasonal sales in January and February, prices of clothing and footwear rose by 4.8 per cent from February to March and contributed substantially to the growth in the CPI. The clothing prices rose by 4.7 per cent while the footwear prices increased by 4.4 per cent.

Energy components such as petrol and electricity also contributed to the growth in the CPI. The petrol prices increased by 2.0 per cent and the electricity prices by 0.9 per cent.

In addition, there was an increase in the TV licence fee in March.

The decline in prices of audiovisual equipment partially offset the growth in the CPI. The drop in prices of fruit and non-alcoholic beverages also had a downward effect on the growth.

Petrol and transport pushed CPI up

There was an increase in the CPI of 1.0 per cent from March 2004 to March 2005. The main contributor to the year-to-year growth in March was the transport group, with prices of petrol and transport services rising by 4.8 and 3.1 per cent respectively. In addition, car prices rose by 1.6 per cent and put upward pressure on the CPI. In addition, a substantial 10.3 per cent rise in prices of accessories for personal transport equipment was registered during the last 12 months.

Prices of materials for maintenance and repair of dwellings climbed by 5.1 per cent from March 2004 to March 2005. In addition, rentals for housing and costs of owner-occupied housing also had an upward effect on the year-to-year growth in March, with price increases of 1.8 and 1.6 per cent respectively.

Prices of services connected to recreation and culture has risen by 6.5 per cent in the last 12 months.

In the opposite direction, prices of clothing and footwear has fallen by 5.5 per cent in the last 12 months. Other offsetting downward effects are electricity and audiovisual equipment, where prices have fallen by 6.1 and 7.5 per cent respectively.