Cyprus Consumer Prices Fall Further

Cyprus’ consumer prices continued to decline in September, though at a slower pace than in the previous month, figures from the Statistical Service showed Friday.

The consumer price index dropped 2.5 percent year-over-year in September, following a 2.7 percent decrease in August. In July, prices had fallen 3.0 percent.

Utility costs plunged 9.5 percent in September from a year ago and transport costs dipped by 5.4 percent. Prices of food and non-alcoholic beverages slid 1.5 percent, while that for alcoholic beverages and tobacco grew by 2.23 percent.

On a monthly basis, consumer prices rose 0.5 percent in September. This was mainly due to the increases in the prices of certain clothing and footwear items, of certain fresh fruits and vegetable and of electricity, the agency said.

The material has been provided by InstaForex Company –