July deflation rate at 0.7%, Cystat says

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By Stelios Orphanides

Consumer prices fell an annual 0.7 per cent in July, mainly on fresh fruit and vegetables, offsetting an increase in electricity prices, the statistical service said.

Electricity prices rose an annual 22 per cent last month while the prices of agricultural produce and industrial products, excluding fuel, fell 13 per cent and 1.3 per cent respectively, Cystat said in a statement on its website on Thursday.

Prices for fuel and services went up 0.9 per cent and 0.4 per cent last month compared to the respective month of last year, Cystat said.
The annual inflation rate in January to July was 1 per cent, Cystat said.

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