Cyprus inflation steady at 1.6% in January

Consumer price inflation was steady in January, as prices rose year on year by 1.6%, the same rate as in December.

However, prices fell compared with the previous month, by 1.8%. A price fall in January is usual owing to the January sales.

The Statistical Service reported that there were decreases in the prices of clothing, footwear and household furnishing items owing to the sales, as well as to further decreases in the prices of petroleum products. Increases were recorded in the prices of fresh vegetables.

During 2006 as a whole consumer prices rose by 2.5%, while the EU-harmonised inflation rate rose by 2.2%.