06/09/2019 09:32
Annual deflation rate remained in negative territory for a third consecutive month in August.
Inflation in August declined to -0.7% compared to August last year, according to data released by the Cyprus Statistical Service (Cystat).
The decline was mainly driven by price reductions in food and non-alcoholic beverages with 3.19% followed by transport with 2.94% and communication with -2.21%.
Price increases were recorded in education with 1.86%, while inflation rate in household furniture equipment and supplies rose to 1.44%, followed by Restaurants and hotels with 1.24%. Prices in water electricity and gas rose by 1.23%.
In the twelve-month period from September 2018 to August 2019, in comparison to the period from September 2017 to August 2018, the annual average rate of change of the Consumer Price Index (CPI) stood at 1.3%, while during the corresponding previous twelve-month period the CPI increased by 0.5%, Cystat said.
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