Deflation continues but slows in December 2015

Α significant reduction in deflationary trend was recorded in December 2015, with the Harmonized Index of Consumer Prices recording the smallest drop in the past 13 months.

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%.

Source: InCyprus