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Cyprus HICP Inflation Remains Negative


Cyprus’s EU measure of inflation remained in the negative territory for the ninth month in a row in December, preliminary data from the statistical office showed on Wednesday.

The harmonized index of consumer prices, or HICP, fell 0.8 percent year-on-year after a 1.1 percent decline in the previous month.

The index has been falling since April. The rate of decline has eased since the 2.9 percent slump in August.

In December, the decline continued to the led by utility costs that fell 5.3 percent. Transport costs dropped 3.5 percent.

Compared to the previous month, the HICP dropped 0.4 percent in December after a 0.8 percent decline in November.

Separately, the statistical office reported that industrial turnover decreased 8.3 percent year-on-year in October.

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