The consumption price index (CPI) have slightly dropped by 0.04 percent in May 2014 compared with the previous month, while it increased by 0.94 percent compared with the same month last year, according to data released on Thursday by the National Institute of Statistics (INS). The monthly inflation rate in January-May stood at 0.3 percent compared to 0.4 percent in the same interval last year. According to INS data, the price for foodstuffs decreased in May, both against the previous month’s prices, by 0.12 percent, and against the prices recorded in May 2013, by 3.16 percent. At the same time the price for non-foodstuffs increased by 0.05 per cent compared with April and by 3.21 percent compared with May 2013. The price for services also dropped in the abovementioned interval, by 0.08 percent month-on-month, but they increased by 3.86 percent year-on-year. Significant increases were recorded in the fresh fruits sector, by 5.94 percent, fruits and canned fruits by 2.80 percent and potatoes, by 1.93 percent. In exchange, the price for eggs decreased by 4 percent and the price for sugar decreased by 3.06 percent in the abovementioned interval. The average increase in overall prices in the past 12 months (June 2013-June 2014) compared with the previous 12 months (June 2012-June 2013), calculated based on the CPI, stood at 2.1 percent, while that calculated based on the Harmonised Index of Consumption Prices (HICP) stood at 1.8 percent, according to INS.
INS: Annual inflation down to 0.94 pc in May
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