According to data released by the Statistical Service of Cyprus, inflation in December 2015 decreased at a rate of -0,6% compared to -1,5% in November 2015. The corresponding rate for December 2014 was -1,0%.
The average annual percentage change for 2015 was -1.5% and this was the largest percentage recorded since 2003. Deflation was also recorded in 2014 with the average annual percentage change at -0.4%.
During 2015, deflation ranged between -0.6% and -2.4%.