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Deflation continued in October

05/11/2015 13:10
Prices in Cyprus continued to fall in October according to latest data from the Statistical Service.

According to the figures, inflation in Cyprus stood at -2.53% in October. The decrease recorded was the same as in September. In October 2014 inflation stood at -0.5%.

The largest decline was recorded in the prices of housing, water supply, electricity and gas sector and in transport sector.

Prices of housing, water supply, electricity and gas sector decreased by 10.96% against a decline of 9.5% in the previous month while prices in the transport sector fell by 5.87% against 5.44% in September.

Prices in the sector of food and non-alcoholic drinks sector dropped by 0.56% compared with a fall of 1.47% in the previous month.

In the clothing and footwear sector prices recorded an increase of 0.59% compared with a fall of 0.47% in September.

Prices of alcoholic drinks and tobacco rose by 1.86% from an increase of 2.23% in September.

Prices in education rose by 0.53%, while a decrease of 0.94% was recorded in the sector of furnishing, household equipment and cleaning products.

For the period January-October 2015, the CPI recorded a decrease of -2,2% compared to the corresponding period of 2014.