Cyprus records deflation for 39th straight month

Cyprus recorded deflation for 39th straight month in September 2016, due to the reduction in electricity price, airfares and petrol, with deflationary pressures, however, remaining at the same low levels recorded in the previous two months.

The Statistical Service announced on Thursday that the Consumer Price Index for September 2016, increased by 0.51 units to 99.14 units compared to 98.63 units in August 2016.

Compared to September 2015, CPI was reduced by 0.5% while for the period between January and September 2016, CPI is also decreased by 1.6% compared to the corresponding period of the previous year.

In the twelve-month period from October 2015 to September 2016, the annual average rate of change of the CPI was -1.6%, in comparison to the period from October 2014 to September 2015, The corresponding annual average rate of change

Source: Cyprus News Agency