Data published by the National Office of Statistics (NSO) said that in February 2020, the annual rate of inflation was 1.1%. The Inflation rate was measured by the Harmonised Index of Consumer Prices (HICP) and compared to January 2020. The NSO data shows that the twelve-month moving average rate for February stood at 1.5%. The largest decreases in inflation were measured in the Food and Non-alcoholic Beverages Index. The highest increases were recorded in the Clothing and Footwear Index.
Taxable income exceeded the €1 million mark