Cyprus HICP Inflation Eases To 0.4%, Lowest In Over 4 Years

(RTTNews) - Cyprus's EU measure of consumer price inflation eased further in May to the lowest level in more than four years, data from the statistical office showed on Wednesday.

The harmonized index of consumer prices, or HICP, rose 0.4 percent year-on-year in May, slower than the 1.4 percent increase in April.

Further, this was the highest inflation since March 2021, when prices had risen only 0.3 percent.

Transport charges were 6.5 percent less expensive compared to last year, and those for housing and utilities declined further by 2.9 percent. Data showed that the annual price growth in food and non-alcoholic beverages moderated to 2.4 percent from 3.0 percent.

On a monthly basis, the HICP moved up 0.2 percent in May.