articles | 07 September 2017

August 2017 inflation seen at -0.2%

The consumer price index dropped 0.2% in August 2017 compared with the respective month of 2016 mainly on more affordable agricultural produce which more than offset higher energy prices, the statistical service said.

The inflation rate remained as a result in the negative area for a second consecutive month, Cystat said in a statement on its website on Thursday. From January to August, consumer prices rose 0.9% compared with the respective period of 2016.

Electricity prices rose last month an annual 12% while fuel prices rose 3.9%, Cystat said. Prices of agricultural produce dropped 8.5% while those of industrial products excluding fuel fell 0.9%. Services became 0.7% less affordable.

Compared with July, prices rose last month 0.5%, Cystat said.

Source: Cyprus Mail

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