Cyprus records annual deflation of 0.5% in November

Cyprus recorded annual deflation of 0.5% in November 2019, while for the first 11 months of the year inflation of 0.2% was recorded.

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

In the 12-month period from December 2018 to November 2019, compared to December 2017-November 2018, the annual average rate of change of the CPI was 0.3%, while the previous 12-month period the CPI increased by 1.2%.

Compared to the index of November 2018 the greatest change in economic origin was recorded in petroleum products (-8.4%), while from the previous month, the greatest change was seen in agricultural produce with a 2.8% increase.

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

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

For January´┐ŻNovember, 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 of transport (-0.47) food and non-alcoholic beverages (-0.27) had the largest effect on the change of the CPI.

Source: The Financial Mirror