Cyprus 2009 inflation rate lowest for 44 years

The Cyprus Statistical Service announced that the consumer price index in January-December 2009 rose by 0.3% compared to the corresponding period of 2008.
This is the lowest annual inflation rate since 1965, the Statistical Service said.
The average annual inflation rate in 2008 was 4.7%.
Prices in 2009 were depressed mainly by a fall in international oil prices, which affected the cost of transport fuel and electricity, which is oil-generated, as well as weaker food-price inflation.
The consumer price index for December 2009 decreased by 0.31% to 112.60.
This was mainly owing to decreases in the prices of certain fresh vegetables, potatoes and diesel for central heating.
Increases were recorded in the prices of certain clothing items and petrol and diesel for motor-cars.
Compared with December 2008, the rate of inflation was 2.0%, compared with 1.4% in November 2009 and 2.1% in December 2008.