Cyprus Inflation July 2019

Cyprus

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.

FocusEconomics panelists project harmonized inflation to average 1.0% in 2019, which is unchanged from last month’s forecast. For 2020, they expect inflation to average 1.4%.


Author:, Economist

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Cyprus Inflation Chart


Cyprus Inflation July 2019

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Statistical Service of Cyprus


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