Local
articles | 11 October 2016

Deflationary pressures persist at -0.4% September 2016

According to the Cyprus Statistical Service, the Harmonized Price Index for September 2016 decreased by 0.4% when compared to September 2015.

Meanwhile for the period between January and September 2016 the HICP recorded a decrease of 1.4% compared to the corresponding period of the previous year. The HICP for September 2016 in comparison to August of 2016 recorded a decrease of 0.4%.

Compared to September 2015, the categories with the biggest negative changes were the following: Transport (-6.0%) and Housing, water, electricity, gas and other fuels (-5.8%), whereas the category with the greatest increase was the Food and non-alcoholic beverages (3.0%).

In comparison to HICP of August 2016, the categories with the largest decrease were the Restaurant and Hotels (-3.2%) while increase was observed in Clothing and footwear (8.9%).

For the period between January and September 2016, compared to the corresponding period of the previous year, the largest negative changes were noted in: Transport (-8.6%) and Housing, water, electricity, gas and other fuels (-8.4%). On the other hand, positive change was recorded in Clothing and Footwear (1.5%).

As regards to the economic origin, the largest change as compared to the index of September 2015 was observed in Energy, where a decrease of 7.6% was observed. When compared to the previous month, the biggest change was recorded in the category of Non energyIndustrial goods, where an increase of 2.8% was recorded.

Source: InCyprus

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