News
Cyprus & World News

CYPRUS: Inflation decreases by -0,6% in July

06 August, 2014

The rate of inflation in July decreased by -0,6%, compared to -1,2% in June 2014 and -0,3% in July 2013, the Statistical Service said on Thursday.

The Statistical Service announced that the Consumer Price Index (CPI) in July decreased by 1,02 units or 0,86% to 117,35 units compared to 118,37 a month earlier.

This is attributed mainly to decreases in the price of clothing and footwear due to summer sale discounts, as well as to a drop in the prices of certain fresh fruit.

Increases have been recorded in the price of certain fresh vegetables, electricity and petroleum products.

For the period January-July 2014, the CPI recorded a decrease of -1,8% compared to the corresponding period of 2013.

The evolution of the Index during the past two months as well as the percentage changes compared with last year are shown in the table below:

Categories of Goods and Services Price Indices (2005=100) Percentage change (%)
June 2014 July 2014 July 2014 June 2014 July 2014 July 2013 Jan.-July 2014 Jan.-July 2013
1. Food and non-alcoholic beverages 129,08 129,08 0,00 -0,32 -2,06 2.
Alcoholic beverages and tobacco 136,36 137,19 0,61 2,74 2,20
3. Clothing and footwear 95,43 82,38 -13,67 2,16 2,12
4. Housing, water, electricity and gas 133,72 134,81 0,82 -4,17 -7,28
5. Furnishings, household equipment and supplies 103,81 103,29 -0,50 -2,82 -2,87
6. Health 123,08 123,24 0,13 -0,08 -1,95
7. Transport 115,57 115,85 0,24 3,25 1,68
8. Communication 104,42 103,76 -0,63 1,85 1,22
9. Recreation and culture 107,06 106,64 -0,39 -1,13 -1,35
10. Education 129,23 129,23 0,00 -4,08 -4,17
11. Restaurants and hotels 125,88 126,20 0,25 -1,31 -1,47
12. Miscellaneous goods and services 112,19 111,63 -0,50 -1,12 -1,10

General Consumer Price Index 118,37 117,35 -0,86 -0,58 -1,78