Insider Business Cyprus records 1% inflation in May on annual basis

Cyprus records 1% inflation in May on annual basis

Inflation of 1% was recorded on an annual basis in May in Cyprus, while on a monthly basis it was recorded at 1.4%.

The Harmonised Consumer Price Index was up by 1.0% in May 2018 compared to May 2017, while in relation to the previous month it was up by 1.4%, the Cyprus Statistical Service said.

It is added that for the period of January – May 2018 a drop of 0.3% compared to the same period of last year.

According to the official data, compared to May 2017 the greatest change was recorded in transport which was up by 3.4%, while on a monthly basis the greatest change was observed in restaurants and hotels with an increase of 4.7%.

In the economic categories energy recorded the greatest change on both an annual (up by 4.3%) and a monthly basis (up by 3.4%).

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