Harmonised inflation slows down in May

Inflation in Cyprus slowed down in May, data released by the Cyprus Statistical Service on Tuesday, show.

The Harmonised Consumer Prices Index was up by 0.9% on an annual basis compared to May 2016, while in comparison to the previous month it was up a mere 0.1%.

In April the annual increase of harmonised inflation was 2.1%.

For the period January – May 2017, inflation was recorded at 1.3% compared to the same period of the previous year.

Compared to May 2016 the greatest positive changes were recorded this May in Housing, Water, Electricity, Gas and Other Fuels (10.1%) while Alcoholic Beverages and Tobacco (-3.1%) had the greatest negative change.

Compared to April 2017, an increase was recorded in the category Restaurants and Hotels (3.8%) while a drop was recorded in Transport (-4.5%).

For the period of January – May 2017 compared to the same period of last year, the greatest change was observed in Housing, Water, Electricity, Gas and Other Fuels (8.7%) and Transport (3.6%).

At the same time the greatest change in economic categories was recorded in Energy with an increase of 12.3% in May 2017 compared to May 2016.

Source: Cyprus News Agency