Cyprus’ inflation at -0.7% in January

Inflation in Cyprus decreased by 0.7% in January 2018 compare to January 2017, according to a press release issued by the Statistical Service of Cyprus.

In January 2018, the Consumer Price Index decreased by 1.21 units to 97.82 units compared to 99,03 units in December 2017. Compared to January 2017, CPI decreased by 0.7%.

In the twelve-month period from February 2017 to January 2018, in comparison to the period from February 2016 to January 2017, the annual average rate of change of the CPI was 0.4%. The corresponding annual average rate of change of the CPI in the previous twelve-month period was -1.3%.

As regards the economic origin, the largest change was recorded in agricultural goods with a decrease of -13.9% when compared to the index of January 2017.

Compared to January 2017, the largest change was noted in Food and Non-Alcoholic Beverages (-5.8%).

In comparison to the CPI of December 2017, a drop was recorded in Clothing and Footwear (-18%).

Source: Cyprus News Agency