Insider Economy Inflation remains in negative territory for eight consecutive months

Inflation remains in negative territory for eight consecutive months

Inflation in Cyprus remained in negative territory for the eighth consecutive month, with the Consumer Price Index in November declining by an annual 1.1%, data released by the Statistical Service of Cyprus (Cystat) show.

Inflation continues a downward trend since April, one month after the outbreak of the coronavirus pandemic in Cyprus.

For the period January – November 2020 the HICP recorded a decrease of 1.1% compared to the corresponding period of the previous year.

Compared to November 2019, the categories Transport and Housing, Water, Electricity, Gas and Other Fuels had the largest negative changes with percentages of 7% and 6.7% respectively, while the category Food and Non-Alcoholic Beverages with 3.1% had the largest positive change.

As regards the economic origin, the largest change when compared to the index of November 2019 was registered in Energy which dropped by an annual 13%, Cystat said.

(CNA)

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