By Stelios Orphanides
The consumer price index dropped 0.2 per cent in August compared with the respective month of 2016 mainly on more affordable agricultural produce which more than offset higher energy prices, the statistical service said.
The inflation rate remained as a result in the negative area for a second consecutive month, Cystat said in a statement on its website on Thursday. From January to August, consumer prices rose 0.9 per cent compared with the respective period of 2016.
Electricity prices rose last month an annual 12 per cent while fuel prices rose 3.9 per cent, Cystat said. Prices of agricultural produce dropped 8.5 per cent while those of industrial products excluding fuel fell 0.9 per cent. Services became 0.7 per cent less affordable.
Compared with July, prices rose last month 0.5 per cent, Cystat said.