The annual inflation rate dropped in May to 1.1% from 2% the month before, as the impact of higher energy prices on consumer prices fades away, the statistical service said.
Electricity and fuel prices rose 29% and 8.2% in May compared with the respective month of 2016, after rising in April 40% and 11%, Cystat said in a statement on its website on Thursday.
Agricultural produce and services prices rose an annual 3.6% and 0.5% last month while those for industrial products excluding fuel dropped 1.2%, Cystat said.
In January to May, consumer prices rose 1.4% compared with the respective period of 2016, Cystat said.
Source: Cyprus Mail
