Cyprus inflation falls for third straight month

The annual consumer price inflation rate in Cyprus fell for the third consecutive month in October, as the price of petroleum products continued to fall.
The consumer price inflation rate reached 5.24% in October, compared with 5.33% in September and a peak of 5.62% in July.
Compared with the previous month consumer price index for October 2008, increased by 0.84% to 112.55, compared with a monthly rise of 0.93% in October 2007.
The Statistical Service reported that decreases were recorded in the prices of petroleum products and certain fresh fruit and vegetables.
Meanwhile, increases were recorded in the prices of clothing and footwear items, the fees of private tertiary education institutions, and potatoes.
For the period January-October 2008, the CPI recorded an increase of 5.1% compared to the corresponding period of 2007, compared with only 2.4% in 2007.