Cyprus Consumer Price Index drops in January

The Consumer Price Index for January 2010 decreased by 2.22 units or 1.97% to 110.38 units, compared to 112.60 in December 2009, and the rate of increase of the Index and therefore the rate of inflation for January 2010 was 2.4% compared to 2.0% in December 2009 and 1.1% in January 2009.

According to a press release, this is mainly due to decreases in the prices of clothing, footwear and household furnishing items due to sale discounts as well as to decreases in the prices of potatoes. Increases have been recorded in the prices of electricity, petroleum products, water rates and certain fresh fruit.