The Department of Statistics and Research announces that the Consumer Price Index for January 1998 decreased by 2,28 units or 1,86 per cent to 120,40 units compared to 122,68 in the previous month. This is mainly due to price discounts in clothing, footwear and furniture as well as to a decrease in the prices of certain fresh fruit. An increase has been recorded in the price of electricity.

2. The average rate of increase of the Index for the last twelve months (i.e. February 1997 - January 1998) compared to the preceding twelve months (i.e. February 1996 - January 1997) was 3,55%.