“Headline” CPI inflation or the year-on-year rate of increase in the overall consumer price index for metropolitan areas slowed down from 7.8 per cent in February 2001 to 5.3 per cent in July. Increases in the prices of consumer services decelerated quite significantly.
In the case of housingrelated services, price increases moderated from a year-on-year rate of 8.1 per cent in February 2001 to 2.8 per cent in July. Housing-related services include mortgage rates, house rent and domestic workers' wages.