Cyprus records annual inflation of 1.3% in May

Inflation was up by 1.3% in Cyprus this May on an annual basis, data released by the Cyprus Statistical Service show.

In May 2018, the Consumer Price Index increased by 1.09 units to 100.96 units compared to 99.87 units in April 2018, a Statistical Service press release issued here today says.

Compared to May 2017, the CPI is increased by 1.3% while for the period January – May 2018, the CPI is decreased by 0.1% compared to the corresponding period of the previous year, it adds.

According to the Statistical Services’ data in the twelve-month period from May 2017 to June 2018, compared to the period from May 2016 to June 2017, the annual average rate of change of the CPI was a mere -0.1%.

The corresponding annual average rate of change of the CPI in the previous twelve-month period had been 0.1%.

The greatest annual change in terms of economic origin in the index was recorded in petroleum products (up by 5.6%). At the same time an increase of 4% was also observed on a monthly basis.

Compared to May 2017, the greatest positive change was noted in the category of transport with an increase of 5%, the press release says.

On a monthly basis an increase in clothing and footwear of 3.1% was noted.

In the first five months of this year an annual positive change of 2.9% was recorded in the category of transport while food and non- alcoholic beverages recorded a drop of 2.43%.

Source: Cyprus News Agency