Cyprus: Consumer prices fall on annual basis for third straight month in June
July 2, 2020
Consumer prices declined 0.4% from the previous month in June, following May’s 0.1% slip. June’s fall was primarily driven by lower prices for food and non-alcoholic beverages.
Consumer prices dipped 2.0% on an annual basis in June, the steepest fall in four years, after they had dropped 1.5% in May. Meanwhile, the annual average variation in consumer prices came in at minus 0.3% in June, down from May’s minus 0.2%. Lastly, harmonized consumer prices tumbled 1.4% year-on-year in May (April: -1.2% year-on-year), which is the latest month for which data is available.
Author: Javier Colato, Economist