Cyprus records annual deflation of 0.5% in November and slight inflation in last 11 months

Cyprus recorded deflation of 0.5% in November 2019, compared to November 2018. According to the Statistical Service of the Republic of Cyprus, during the period January-November 2019, inflation of 0.2% was recorded compared to the first eleven months of the previous year.

In particular, the Consumer Price Index (CPI) increased in November 2019 by 0.31 units and reached 101.60 units compared to 101.29 units in October 2019.

In the twelve-month period from December 2018 to November 2019, in comparison to the period from December 2017 to November 2018, the annual average rate of change of the CPI was 0.3%, while during the corresponding previous twelve-month period the CPI increased by 1.2%.

Comparing to the index of November 2018 the greatest change in economic origin was recorded in petroleum products (-8.4%), while in comparison to the index of the previous month, the greatest change was noted in agricultural goods with a percentage of 2.8%.

Compared to November 2018, the categories of transport and communication recorded the greatest changes with percentages of -3.1% and 2.7% respectively.

In comparison to the CPI of the previous month, the largest changes were noted in food and non-alcoholic beverages (1.3%) and housing, water, electricity, gas and other fuels (0.9%).

For the period between January´┐ŻNovember 2019, compared to the corresponding period of the previous year, the largest changes were recorded in housing, water, electricity, gas and other fuels (4%) and transport (-3.4%).

Compared to the Index of November 2018, the categories transport (-0.47) and food and non-alcoholic beverages (-0.27) had the largest effect on the change of the CPI.

Source: Cyprus News Agency