Inflation drops in negative territory in June

Cyprus annual inflation in June dropped to negative territory with Consumer Price Index declining to -0.2% driven by negative changes in the field of transport, Cyprus Statistical Service (Cystat) said on Thursday.

Compared with May 2019, the CPI index in June 2019 increased by 0,11 units reaching 101.29 units compared to 101,18 units.
In the twelve-month period from July 2018 to June 2019, in comparison to the period from July 2017 to June 2018, the annual average rate of change of the CPI was 1,8%. During the corresponding previous twelve- month period the CPI remained unchanged.
 
According to Cystat, compared to June 2018,  CPI was negative affected by prices in the field of transport that dropped by 3,70%, followed Clothing and Footwear which dropped by 2.90% and communication with -2.90%.
 
On a monthly basis, the CPI Index was pushed upward by Housing, Water, Electricity, Gas and Other Fuels which increased by 1.61%, Restaurants and Hotels which increased by 0.34% and Furnishings, Household Equipment and Routine Maintenance of the House which accelerated by 0.30%. All other sectors either had neutral or negative effect on the CPI index.