Cyprus: Consumer prices drop at sharpest rate in four months year-on-year in December
Consumer prices slid 0.70% over the previous month in December, contrasting November’s 0.47% rise, and logging the first drop since July. December’s downturn largely reflected declining prices for food and non-alcoholic beverages, as well as for clothing and footwear.
Consumer prices tumbled 1.1% on an annual basis in December (November: -0.6% yoy), marking the sharpest fall in prices in four months. Accordingly, the annual average variation in consumer prices pointed down further, coming in at minus 0.6% (November: -0.5%). Lastly, harmonized consumer prices came in at 0.8% year-on-year in December, following November’s 1.1% drop.