Cyprus HICP Falls At Stable Rate In May

Cyprus’ EU measure of inflation declined at a stable pace in May, figures from the Statistical Service showed Tuesday.

The harmonized index of consumer prices, or HICP, fell 1.7 percent year-over-year in May, the same rate as in the previous month. Prices have been falling since December last year.

Utility costs plunged 9.0 percent annually in May and transport costs dipped by 4.7 percent. At the same time, prices of food and non-alcoholic beverages remained unchanged.

In the January to May period, the HICP decreased 1.3 percent versus a 1.2 percent fall during the first four months of the year.

The material has been provided by InstaForex Company – www.instaforex.com

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