Cyprus Inflation Weakens Further In June

Cyprus' consumer price inflation Slowed for the third consecutive month in June, data released by the statistical office showed Thursday.

Annual inflation slowed to 1.77 percent in June from 2.95 percent in May, marking the third successive slowdown. In April and March, the inflation rates were 3.0.8 percent and 3.37 percent respectively

Food and non-alcoholic beverages prices decreased 4.18 percent annually, while clothing and footwear prices dropped 3.34 percent during the month. Meanwhile, housing costs and utility prices climbed 14.21 percent year-on-year in June, and transportation costs rose 2.87 percent.

Compared to May, consumer prices decreased 0.66 percent in June. In the January-June period, prices gained 2.89 percent from the corresponding period a year earlier, the agency said.