Cyprus: Harmonized inflation declines to lowest level since March in September
Latest reading: Harmonized inflation came in at 1.6% in September, down from August’s 2.2%. September’s figure represented the lowest inflation rate since March. The decline was broad-based, with lower price pressures recorded for food and non-alcoholic beverages, transportation, and housing and utilities. Moreover, prices for recreation grew at a more subdued pace.
In addition, the trend pointed down, with annual average harmonized inflation coming in at 2.3% in September (August: 2.6%). Meanwhile, consumer price inflation fell to 0.7% in September from the previous month’s 1.5%.
Finally, harmonized consumer prices dropped 0.39% from the previous month in September, contrasting the 0.94% rise logged in August. September’s result marked the sharpest fall in prices since January.