Cyprus HICP follows CPI downwards

The EU-harmonised consumer price inflation rate (HICP) in Cyprus fell to 3.1% in November, down from 4.8% in October and a peak of 5.3% in July.
Compared with the previous month, the index fell by 1.3%.
The biggest fall in prices was recorded in the price of transport, which dropped by 5.3% as international oil prices eased.
Housing, water, electricity and gas prices, which also depend on oil prices, fell by 4.7%.
In the period January-November 2008, the HICP rose by 4.6% over the same period of 2007. The consumer price inflation rate in the same period was 4.9%.