Cyprus inflation decelerates to 2.9% in May 2012

by fm

7th June 2012

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Inflation in Cyprus decelerated to 2.9% in May 2012, compared with 3.1% in April 2012 and 3.9% in May 2011, figures released today by Cyprus Statistical Service show.

The Consumer Price Index for May 2012 increased by 0.44 units or 0.37% to 120.49 units compared to 120.05 in April 2012.

This is mainly due to increases in the prices of certain clothing and footwear items, electricity, airfares and water rates. Decreases have been recorded in the prices of petroleum products and certain fresh vegetables.

For the period January-May 2012, the CPI recorded an increase of 3.1% compared to the corresponding period of 2011.