Cyprus inflation drops to 1.7% in October

The national consumer price inflation dropped to 1.7% in October 2012, from 2.5% in September and 3.0% in October 2011.
Compared with the previous month prices rose by 0.68%.
The Statistical Service reported that this was mainly owing to increases in the prices of certain clothing and footwear items, potatoes and electricity.
Decreases were recorded in the prices of certain vegetables and petroleum products.
In January-October 2012, the CPI rose by 2.6% compared with the corresponding period of 2011.
Meanwhile, the EU-harmonised consumer price inflation rate (HICP) fell to 2.6% in October, from 3.6% in September 2012 and 3.2% in October 2011.
The HICP figures are higher in 2012 than the CPI owing to a change in weighting that will affect the figures in 2012.