The rate of inflation for December 2014 decreased by -1.5% compared to -0.2% in November 2014 and -2.3% in December 2013.
December marked the 18th consecutive month that Cyprus` economy experienced deflation.
According to the Statistical Service of the Republic of Cyprus, the Consumer Price Index for December 2014 decreased by 1,88 units or 1.60% to 115,77 units compared to 117,65 in November 2014.
This is mainly due to decreases in the prices of petroleum products, electricity, certain fresh vegetables, certain clothing items and air fares.
For the period January-December 2014, the CPI recorded a decrease of -1.4% compared to the corresponding period of 2013.
ENDS, CYPRUS NEWS AGENCY