Cyprus: Consumer prices drop at sharper rate in February
March 4, 2021
Consumer prices rose 0.11% over the previous month in February, bouncing back from January’s 1.06% drop. February’s upturn was largely owing to rebounding prices for food and non-alcoholic beverages.
Consumer prices slid 1.9% on an annual basis in February, following January’s 1.6% drop and logging the 11th successive month of falling prices. Accordingly, the annual average variation in consumer prices dropped, coming in at minus 1.1% in February (January: -0.9%). Lastly, harmonized consumer prices dropped 0.8% year-on-year in January, the last month for which data is available, matching December’s 2020 fall.