Cyprus: Harmonized inflation falls to lowest level since March in November
Harmonized inflation dropped to 8.1% in November, following Octobers 8.6% outturn. November’s reading represented the weakest inflation rate since March. The decline was driven by moderating price pressures for transportation and housing and utilities. Moreover, prices for recreation grew at a more subdued pace.
The trend pointed up, with annual average harmonized inflation coming in at 7.9% in November (October: 7.6%). Meanwhile, consumer price inflation fell to 8.7% in November, from the previous month’s 8.8%.
Lastly, harmonized consumer prices dropped 0.38% in November over the previous month, contrasting the 0.54% increase seen in October.