HICP in neg­a­tive ter­ri­tory for 22nd straight month

Financial Mirror (Cyprus) - - FRONT PAGE -

The Har­monised In­dex of Con­sumer Prices (HICP) de­clined by 0.4% year on year in Septem­ber con­tin­u­ing de­fla­tion­ary pres­sures that be­gan in De­cem­ber 2014, mainly due to sig­nif­i­cant re­duc­tion in en­ergy prices, ac­cord­ing to the Sta­tis­ti­cal Ser­vice (CyS­tat).

Com­pared to Septem­ber 2015, the cat­e­gories with the big­gest neg­a­tive changes were trans­port (-6.0%) and hous­ing, wa­ter, elec­tric­ity, gas and other fu­els (-5.8%), while an in­crease of 3.0% was recorded in food and non­al­co­holic bev­er­ages, the Cyprus News Agency re­ported.

As re­gards to the eco­nomic ori­gin, the largest change as com­pared to the in­dex of Septem­ber 2015 was in en­ergy, where a de­crease of 7.6% was ob­served.

For the Jan­uary - Septem­ber pe­riod this year, the HICP marked a de­crease of 1.4% com­pared to the cor­re­spond­ing pe­riod of the pre­vi­ous year, CyS­tat said.

Be­tween Jan­uary and Septem­ber, the largest neg­a­tive changes were in trans­port (-8.6%) and hous­ing, wa­ter, elec­tric­ity, gas and other fu­els (-8.4%). On the other hand, a pos­i­tive change was recorded in cloth­ing and footwear (1.5%).

The HICP for Septem­ber in com­par­i­son to August de­creased by 0.4%. The cat­e­gories with the largest de­crease were restau­rant and ho­tels (-3.2%), while an in­crease was ob­served in cloth­ing and footwear (8.9%).

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