FAMAGUSTA GAZETTE – Cyprus recorded deflation for the third straight month in July, with the Consumer Price Index (CPI) falling by 0.9 percent year-on-year — the steepest annual drop in nearly three years, according to the Statistical Service.
The index declined to 116.65 points, down from 117.28 in June, marking a monthly decrease of 0.63 points.
The most significant annual increase was seen in services, which rose by 3.7 percent. In contrast, electricity prices dropped by 12.2 percent and petroleum products by 8.1 percent, contributing heavily to the overall decline.
Clothing and footwear also registered a sharp annual drop of 7.3 percent, while restaurants and hotels rose by 5 percent, and recreation and culture increased by 4.1 percent