Cyprus: Consumer prices decline in annual terms for fourth consecutive month in July
August 6, 2020
Consumer prices declined 0.76% from the previous month in July, following June’s 0.42% slip. July’s fall was primarily driven by lower prices for food and non-alcoholic beverages, and clothing and footwear.
Consumer prices dipped 1.5% on an annual basis in July, after having dropped 2.0% in June. Meanwhile, the annual average variation in consumer prices came in at minus 0.4% in July, down from June’s minus 0.3%. Lastly, harmonized consumer prices tumbled 2.2% year-on-year in June (May: -1.4% year-on-year), which is the latest month for which data is available.
Author: Javier Colato, Economist