Consumer prices continue to rise

According to CSO, the annual rate of inflation declined for the second consecutive month to 8.2 percent in February, down by 0.6 of a percentage point from 8.8 percent in January. This means prices generally rose by a lesser percentage rate of 8.2 percent between February 2011 and February 2012, compared to 8.8 percent between January 2011 and January 2012.

The annual inflation rate also fell in January to 8.8 percent from 9.2 percent in December 2011. However, the two-month fall in annual inflation is likely to be cut short in March due to recent increases in alcoholic and non-alcoholic beverages.