Cyprus: Inflation slows in November from October
Latest reading: Harmonized consumer prices were up 0.1% on a year-on-year basis in November, following a 0.2% rise in the prior month. Cyprus’s inflation remained the lowest in the EU for the seventh consecutive month.
Relative to the prior month’s data, there were reduced price pressures for transportation (-1.5% on a year-on-year basis vs -1.3% in October), housing and utilities (-2.6% vs -2.2% in October), recreation (+5.1% vs +5.2% in October) and restaurants and hotels (+4.5% vs +5.2% in October). In contrast, price pressures were higher for food and non-alcoholic beverages in November (-1.6% vs -2.0% in October).
Meanwhile, consumer prices were down 0.5% in November, following a 0.3% decline in the prior month.
Lastly, harmonized consumer prices fell 1.06% in November in month-on-month terms, following a 0.05% increase in the prior month.