articles | 04 January 2017

December 2016 inflation rate seen at 0.3%

Consumer prices dropped an annual 0.3% in December 2016, mainly on cheaper industrial goods and services which offset price increases of energy products and agricultural goods, the statistical service said.

In January to December, the consumer price index dropped 1.4% compared with the respective period of 2015, Cystat said in a statement on its website on Wednesday.

Prices for electricity prices and petroleum products rose in December 4.1% and 2.9% respectively, while agricultural goods rose 1.4% compared with the respective month of 2015, Cystat said. Industrial goods and services became 1.4% and 0.1% more affordable.

Source: Cyprus Mail

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