September deflation rate seen at 0.4%, Cystat says

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By Stelios Orphanides

The consumer price index fell an annual 0.4 per cent in September mainly on cheaper vegetables and cleaning products, which offset an increase in energy prices, the statistical service said.

In January to September, consumer prices rose 0.7 per cent, Cystat said in a statement on its website on Thursday. Compared to August, consumer prices rose 0.3 per cent.

The prices of agricultural products fell 6.2 per cent in September compared to the respective month of 2016 and those of industrial products fell 1.2 per cent, Cystat said. Fuel prices rose 4.6 per cent, electricity prices went up 3.8 per cent, and services became 0.5 per cent less affordable.

Consumer prices dropped 0.2 per cent last month compared to August 2016.

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