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Inflation in Cyprus decreases -0,7% in July 2017 yoy

Inflation in Cyprus decreases -0,7% in July 2017 yoy
In July 2017, the Consumer Price Index decreased by 1,16 units to 98,03 units compared to 99,19 units in June 2017. Compared to July 2016, CPI is decreased by 0,7% while for the period January -July 2017, CPI is increased by 1,0% compared to the corresponding period of the previous year.

In the twelve-month period from August 2016 to July 2017, in comparison to the period from August 2015 to July 2016, the annual average rate of change of the CPI was 0,3%. The corresponding annual average rate of change of the CPI in the previous twelve month period was -2,0%.

As regards the economic origin, when compared to the Index of July 2016, the largest change was observed in Electricity with an increase of 22,4% while decrease was noted in Agricultural Goods (-12,7%).

Compared to July 2016, the category with the biggest decrease was Food and Non-Alcoholic Beverages (-5,8%) while increase was observed in Housing, Water, Electricity, Gas and Other Fuels (6,0%).

In comparison to the CPI of June 2017, the category with the largest decrease was the Clothing and Footwear (-13,6%).

For the period between January – July 2017, compared to the corresponding period of the previous year, the largest positive change was noted in Housing, Water, Electricity, Gas and Other Fuels (7,3%).

The category with the largest negative effect on the change of the CPI of July 2017 when compared to July 2016 was the Food and Non-Alcoholic Beverages (-0,98). The Housing, Water, Electricity, Gas and Other Fuels (0,69) had a positive effect.

The category with the largest negative effect on the change of the CPI compared to the previous month, was the Clothing and Footwear (-1,21).

The following products/services had the most notable negative effect on the change of the CPI of July 2017 compared to July 2016: fresh fruits (-0,45) and vegetables (-0,40).The product with the most positive effect was electricity (0,56).

Finally, clothing (-0,90) and footwear (-0,30) had the most negative effect on the change of the CPI of July 2017 compared to the previous month. Airtickets (0,20) had the most positive effect./IBNA

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