articles | 01 September 2016

August 2016 inflation seen at -0.4% in Cyprus

Cyprus’ consumer price index fell in August 2016 0.4% compared with the respective month of 2015, following an annual deflation rate of 0.2% in July, the statistical service said recently.

From January to August, consumer prices dropped an annual 1.7%, Cystat said in a statement on its website on Thursday. In the twelve-month period from September 2015 to August this year, consumer prices dropped 1.8%.

The drop in consumer prices in August was mainly on lower energy prices, such as electricity and fuel, which dropped 12% and 11% respectively compared with the respective month of 2015, Cystat said. The drop was partly compensated by a 17% increase in the prices of agricultural prices. Prices for manufactured goods and services fell 0.4% and 0.6% respectively.

Source: Cyprus Mail

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