Cyprus September inflation rate drops to 2.4%

The Consumer Price Index (CPI) for September 2011 increased by 0.91 units or 0.78% to 116.86 units compared with 115.95 in August 2011.

According to CyStat, this is mainly attributed to increases in the prices of certain clothing and footwear items, electricity, certain fresh fruit, items of jewellery and tuition fees of private educational institutions and part-time education coaching centres. Decreases have been recorded in the prices of airfares and petroleum products.

The rate of increase of the Index, and therefore the rate of inflation for September 2011 dropped to 2.4% compared to 2.9% in August 2011 and 3.5% in September 2010.

For the period January-September 2011, the CPI recorded an increase of 3.2% compared to the corresponding period of 2010.