CYPRUS: June CPI down on fruit, electricity; inflation -2.4%

The Consumer Price Index for June decreased by 0.18 units or 0.16% to 115.50 units compared to 115.68 in May mainly due to decreases in the prices of certain fresh fruit and electricity.

The “food and non-alcoholic drinks” sub-index was down -1.95% from the previous month and -2.74% year-on-year, while the “housing, water, electricity and gas” sub index decreased marginally by 0.07% from May, but -9.17% year-on-year and -7.92% for 1H 2015 compared to the same period last year, in line with global price changes in crude oil contracts.
Increases in CPI have been recorded in the prices of air fares and retail petroleum products. The “transport” sub-index was up 1.8% from May to June, but down -2.89% year-on-year.
The rate of inflation for June decreased by -2.4% compared to -2.0% in May and -1.2% in June 2014.
For the first half period January-June 2015, the CPI recorded a decrease of -1.9% compared to the corresponding period of 2014.