Cyprus

CYPRUS: Deflation continues in September

by fm

3rd October 2014

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Cyprus remained in deflation for the 15th consecutive month in September, as the rate of inflation decreased by -0.9%, compared with a year earlier.

Figures released by the Statistical Service on Thursday showed that for the period January-September, the Consumer Price Index recorded a decrease of -1.6% compared to the corresponding period of 2013.

The rate of inflation for September decreased by -0.9% compared to -0.7% in August and -1.0% in September 2013.

The Consumer Price Index for September increased by 0.42 units or 0.36% to 117.49 units compared to 117.07 in August.

“This is mainly due to increases in the prices of certain clothing and footwear items and certain fresh fruit and vegetables. Decrease have been recorded in the prices of air fees, petroleum products and electricity” the Service said.