Cyprus Mail
Business

Deflation rate accelerates to 1.2% in October

The consumer price index fell 1.2 per cent in October, compared to the respective month of 2015, after falling 0.5 per cent in September, mainly on cheaper airfares, vegetables, clothing, electricity, and fresh fruit, the statistical service said.

Compared to September, consumer prices rose 0.1 per cent, as more expensive clothing and footwear, fuel, and other products and services, offset the impact from more affordable food and non-alcoholic beverages, mainly fruits and vegetables, Cystat said in a statement on its website on Thursday. In January to October, Cyprus posted an annual deflation rate of 1.6 per cent.

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