Cyprus Mail

January 0.5% inflation rate ends an almost 4-year deflation period

The consumer price index rose an annual 0.5 per cent in January, mainly on higher energy prices ending prolonged deflation period which started in June 2013, the statistical service said.

Compared with December, consumer prices fell 1.1 per cent last month, Cystat said in a statement on its website on Thursday.

Fuel prices rose over 11 per cent last month while electricity became 3.4 per cent more expensive compared to January 2016, Cystat said. Consumers had to pay 2.5 more this January to buy the same amount of agricultural products they bought a year before. The cost of services rose marginally while the price of water remained unchanged.

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