Deflation reaches 1.2% in June 2014

The rate of inflation decreased in June 2014 by -1.2% compared to -1.4% in May 2014 and 0.1% in June 2013, according to an official press release.

The Consumer Price Index for June 2014 increased by 0.34 units or 0.29% to 118.37 units compared to 118.03 in May 2014.

This is mainly due to increases in the prices of certain fresh vegetables, certain telephone charges and electricity, while a decrease has been recorded in the price of potatoes.

For the period January-June 2014, the CPI recorded a decrease of -1.99% compared to the corresponding period of 2013.

Source: Famagusta Gazette

Cyprus Profile

articles | 04 July 2014