Food registers increase in prices during October 2020

supermarket

During last month, October 2020, the annual rate of inflation as measured by the Retail Price Index, RPI, was 0.35%, according to the latest statistics published by NSO, the National Statistics Office. This means that the rate of inflation went up from 0.18% when compared to the rate registered in September 2020.

The Retail Price Index measures monthly price changes in the cost of purchasing a representative basket of consumer goods and services, and is closely linked with the cost-of-living adjustment (COLA) increases and periodic rent payment adjustments.

The data also shows that the twelve-month moving average rate for October stood at 0.81%.

Also, the largest upward impact on annual inflation was measured in the food index, while the largest downward impact was recorded in the transport and communication index (Chart 3).

The National Statistics Office explained that the details on the compilation of the RPI were taken within the context of the COVID-19 pandemic.