Cyprus: Consumer prices fall sharply year-on-year in April
Consumer prices fell 1.5% from the previous month in April, following March’s 0.1% month-on-month uptick. According to the Statistical Service of Cyprus (CYSTAT), the drop mainly reflected a sharp decline in prices for transport, and housing and utilities.
Consumer prices dipped 1.2% on an annual basis in April, after inflation had come in at 0.7% in March—marking the lowest reading in nearly four years. Meanwhile, annual average inflation ticked down to 0.0% from 0.1% in the prior month. Lastly, harmonized inflation fell to 0.1% in March (February: 1.0%), which is the latest month for which data is available.