The Harmonized Consumer Price Index (HICP) of Cyprus decreased by 1.4% in October compared to last year. The country’s Statistics Service specifies that inflation remains in negative territory for the seventh consecutive month, as the Coronavirus Pandemic and the decline in purchasing power of the population affect the price increase.

Compared to September 2020, October HICP has increased by 0.2%. For the period from January to October, HICP showed a decrease of 1.1% compared to the same period last year.

The largest changes in percentage ratio for the year occurred in the reporting categories “Housing, water, electricity, gas and other resources” and “Transport”: -7.4% and -5% respectively. In general, the energy sector was most heavily affected by the processes (-13.4%).