The Index of Retail Prices for December 2014 stood at 171.1 points, representing a decrease of 0.6 per cent when compared with the 172.2 points recorded the previous month.
Increases were recorded for Food by 1.3 per cent and Education, Recreation and Miscellaneous by 0.1 per cent.
Decreases were registered for Transportation by 5.1 per cent; Fuel and Light by 4.6 per cent; Household Operations and Supplies as well as Clothing and Footwear by 0.6 per cent each; Alcoholic Beverages and Tobacco by 0.3 per cent; and Housing as well as Medical and Personal Care by 0.2 per cent each.
Between December 2013 and December 2014, the Index of Retail Prices increased by 2.3 per cent, from 167.3 to 171.1 points. The average inflation rate for the year was 1.9 per cent.