Cyprus: Harmonized inflation drops to lowest level since May 2021 in December
Harmonized inflation came in at 1.9% in December, which was down from November’s 2.4%. December’s reading marked the lowest inflation rate since May 2021. Looking at the details of the release, price pressures for housing and utilities and transportation softened. That said, food inflation rose.
The trend pointed down, with annual average harmonized inflation coming in at 3.9% in December (November: 4.4%). Meanwhile, consumer price inflation edged down to 1.6% in December, from November’s 1.7%.
Lastly, harmonized consumer prices dropped 1.23% over the previous month in December, a smaller fall than November’s 1.54% drop.