The Consumer Price Index (CPI) recorded a reduction for the 23rd consecutive month in May 2015, according to data released Thursday by the Statistical Service of Cyprus.
The rate of inflation for May 2015 decreased by -2,0% compared to -2,1% in April 2015 and -1,4% in May 2014.
The Consumer Price Index for May 2015 recorded an increase of 0,34 units or 0,29% to 115,68 units compared to 115,34 in April 2015. This is mainly due to increases in the prices of certain fresh fruit, petroleum products and air fares. Decreases have been recorded in the prices of certain fresh vegetables, potatoes and electricity.
For the period January-May 2015, the CPI recorded a decrease of -1,7% compared to the corresponding period of 2014.
Deflationary trends started in July 2013.
ENDS, CYPRUS NEWS AGENCY