June inflation rate seen at 0.7%


By Stelios Orphanides

The inflation rate decelerated for a second consecutive month in June to 0.7 per cent from 1.1 per cent in May and April’s 2 per cent, the statistical service said.

The increase in consumer prices last month was mainly on higher electricity prices which rose an annual 32 per cent, followed by fuel and services, which became 3.4 per cent and 0.3 per cent more expensive, Cystat said in a statement on its website on Thursday. A drop in the prices of airfares, fruits and vegetables partly offset the increase.

The annual inflation rate in the first six months of the year was 1.3 per cent, Cystat said.


About Author

Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]