Cyprus Inflation June 2020

Cyprus

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.

FocusEconomics panelists project harmonized inflation to average 0.1% in 2020 and 0.5% in 2021.


Author:, Economist

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Cyprus Inflation June 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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