Cyprus: Consumer prices, on an annual basis, fall for fifth consecutive month in October
Consumer prices rose 0.4% from the previous month in October, following September’s 0.6% month-on-month increase. According to the Statistical Service of Cyprus (CYSTAT), the reading main reflected a sharp rise in prices for clothing and footwear, and a moderate climb in housing and utilities costs.
Consumer prices, on an annual basis, fell 1.0% in October, more sharply than the 0.9% decline logged in September and marking the fifth consecutive month of falling prices. Meanwhile, annual average inflation slipped to 0.6% in October from 0.9% in the previous month. Lastly, harmonized prices fell 0.5% on an annual basis in September, which is the latest month for which data is available, contrasting their 0.6% rise in August.