Cyprus: Consumer prices, on an annual basis, fall again in July
August 5, 2019
Consumer prices declined 1.3% from the previous month in July, contrasting June’s 0.1% month-on-month increase. According to the Statistical Service of Cyprus (CYSTAT), July’s dip was largely attributable to a sharp drop in prices for clothing and footwear.
Consumer prices, on an annual basis, slid 0.3% in July, more sharply than the 0.2% decrease logged in June. Meanwhile, annual average inflation edged down to 1.5% in July from 1.8% in the previous month. Lastly, harmonized inflation for June (the latest month for which data is available), came in at 0.3%, up slightly from 0.2% in May.
Author: Javier Colato, Economist