articles | 08 April 2015

Deflation accelerated in March 2015

Deflation accelerated in March 2015, as measured by the Harmonized Index of Consumer Prices (HICP), the Statistical Service of Cyprus said recently.

The inflation for March 2015 decreased at a rate of -1.4%, and -0.8% for February 2015, the Service announced. It added that for March 2014, the corresponding rate had also been decreased at -0.9%.

Cyprus saw deflation for the fourth consecutive month in March. In January deflation stood at 0.7%, from 1% in December 2014.

There was a significant fall of the housing, water, electricity, gas, transport, clothing and footwear indices.

The indices of food and non-alcoholic beverages, alcoholic beverages and tobacco increased.

Source: Famagusta Gazette

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