Cyprus: Consumer Price Index fell 0.42 points in May – Inflation at -2%

Cyprus: Consumer Price Index fell 0.42 points in May – Inflation at -2%

In June 2020, the Consumer Price Index decreased by 0.42 units and reached 99.27 units compared to 99.69 units in May 2020. Compared to June 2019, the CPI decreased by 2%.

For the period January-June 2020, the CPI decreased by 0.3% compared to the corresponding period of the previous year.

As regards the economic origin, the largest change when compared to the index of June 2019 was recorded in Petroleum Products (-17%), while compared to the index of the previous month the largest change was noted in Agricultural goods with a percentage of -7%.

Analysis of percentage changes

Compared to June 2019, the category Transport recorded the largest change with a percentage of -8.3%.

In comparison to the CPI of the previous month, the largest changes were noted in Food and non-Alcoholic Beverages and Transport with percentages of -3,1% and 2,8% respectively.

For the period January–June 2020, compared to the corresponding period of the previous year, the largest changes were recorded in Transport and Clothing and Footwear with percentages of -3.4% and -2.8% respectively.

Compared to the Index of June 2019, the categories Transport (-1.26) and Housing, water, electricity, gas and other fuels (-0.59) had the largest effect on the change of the CPI.

The category Food and non-Alcoholic Beverages had the largest negative effect (-0.61) on the change of the CPI compared to the previous month, whereas Transport (0.37) had the largest positive effect.

Petroleum products (-1.44) and Electricity (-0.49) had the most notable effect on the change of the CPI of June 2020 compared to June 2019.

Finally, fresh fruits had the largest negative effect of 0.70 units on the change of the CPI of June 2020 compared to the previous month, whereas petroleum products had the largest positive effect of 0,24 units./ibna