Cyprus records deflation of 1.5% in January

Cyprus recorded deflation of 1.5% on an annual basis in January, official data released on Monday show.

The Harmonized Price Index for January 2018 fell by 1.5% when compared to January 2017, a Cyprus Statistical Service press release issued here today says.

Compared to December of 2017 the Index dropped by 1.9%, it adds.

According to the data the greatest changes on an annual basis were observed in the categories Clothing and Footwear (-7.4%) and Food and Non-Alcoholic Beverages (-4.4%).

Month on month, the category with the greatest change was Clothing and Footwear (-20.3%).

Compared to January 2017, the greatest change in economic categories was observed in Food, Alcoholic Beverages and Tobacco with a drop of -3.6%.

Compared to the previous month, the greatest change was noticed in Non-Energy Industrial Goods (-5.9%), the Statistical Service press release says.

Source: Cyprus News Agency