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Cyprus Consumer Prices Decrease For Second Month

Cyprus's consumer prices fell for a second consecutive month in May, led by steep decline in the transport and clothing and footwear segments, preliminary data from the statistical office showed on Wednesday.

The harmonized index of consumer prices, or HICP, which is meant for EU comparison, decreased 1.4 percent year-on-year after a 1.2 percent decline in April.

Transport costs slumped 7.8 percent and prices in the clothing and footwear group decreased 4.2 percent. Utility costs dropped 2.5 percent. Prices in communication and restaurants and hotels were lower by around 2 percent each.

In contrast, prices of food and non-alcoholic beverages grew 3.6 percent.

Compared to the previous month, the HICP edged up 0.1 percent in May.

In the January to May period, the index decreased 0.2 percent from a year ago.

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