Cyprus inflation in December drops to 2.1%

Cyprus inflation in December 2008 dropped to 2.1%, compared to November's 3.4%, assisted by a significant drop in fuel prices, according to figures released by Cyprus' Statistical Service.
The Consumer Price Index (CPI) for December 2008 decreased by 1.09 units or 0.98% to 110.34 units, compared to 111.43 in November 2008.
''This is mainly due to decreases in the prices of petroleum products, electricity, gas, certain fresh vegetables, potatoes and fresh milk,'' the Statistical Service said, adding that ''increases have been recorded in the prices of lamb and goat meat and certain fresh fruit.''
However the CPI for the whole year recorded a significant increase of 4.7% compared to the inflation rate of 2.4% in 2007.