The annual rate of inflation fell to 2.6 per cent in December 2004, but this figure disguises energy price rises that will appear in January gas and electricity bills.
A breakdown of the consumer price index shows that the most notable price changes felt by consumers in 2004 were in the cost of housing, water, and energy -which rose by 8.4 per cent in 2004.
Other sectors to experience price rises well ahead of the overall rate of inflation include health (+5.7 per cent), education (+5.4 per cent) and transport (+4.7 per cent).
The figures show that the annual rate of inflation for services is now running at 4.2 per cent compared to a rate of 0.9 per cent in respect of goods.
In December, price increases for natural gas (+10.9 per cent) and electricity (+4.5 per cent) that were approved by the respective regulators came into effect.
Although higher charges for domestic electricity became effective from 1st October, they did not affect households as higher bills until the beginning of December.
As different billing cycles or periods exist, the increase is being introduced over the months of December 2004 and January 2005, covering the December-January ad January-February billing periods.
Accordingly, the balance of the price increase approved by the energy regulator will be reflected in the January 2005 consumer price index.