Cyprus Inflation July 2020

Cyprus

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.

FocusEconomics panelists project harmonized inflation to average 0.4% in 2020 and 1.0% in 2021.


Author:, Economist

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Cyprus Inflation July 20 20

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Statistical Service of Cyprus.


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