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Cyprus Inflation May 2020

Cyprus: Consumer prices fall again year-on-year in May

Consumer prices fell 0.1% from the previous month in May, following April’s 1.5% drop. May’s dip was mainly driven by lower prices for housing and utilities, and transport.

Consumer prices declined 1.5% on an annual basis in May, after they had dropped 1.2% in April—marking the lowest reading since June 2016. Meanwhile, the annual average variation in consumer prices dropped 0.2% in May, compared to the flat reading in April. Lastly, harmonized consumer prices tumbled 1.2% year-on-year in April (March: 0.1%), which is the latest month for which data is available.

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