Cyprus’ inflation rate down to 0.6% in May

The rate of inflation in Cyprus for May 2009 fell to 0.6% compared to 0.7% in April 2009 and 4.9% in May 2008.

According to an official press release by Cyprus Statistical Service (CyStat) the Consumer Price Index for May 2009, increased by 0.82 units or 0.74% to 110,89 units compared to 110,07 in April 2009 mainly due to increases in the prices of certain fresh fruit, petroleum products, certain clothing items and water rates.

Decreases have been recorded in the prices of certain fresh vegetables, the purchase of motor vehicles, electricity and potatoes.

For the period January-May 2009, the CPI recorded an increase of 0.8% compared to the corresponding period of 2008.