Inflation in Cyprus turned negative in November, with the Consumer Price Index (CPI) falling by 0.5 per cent year on year, according to the state statistical service (Cystat).

The index decreased by 0.68 points to 117.57 units compared with 118.25 units in October, reflecting a monthly drop of 0.6 per cent.

Among economic categories, services recorded the strongest annual increase at 3.1 per cent, while electricity registered the steepest annual decline of 7.9 per cent, followed by agricultural products, which decreased by 6.2 per cent.

Compared with October, agricultural products posted the largest monthly reduction of 7.6 per cent.

Compared with November 2024, clothing and footwear experienced the sharpest annual change with a decline of 7.6 per cent. Restaurants and hotels rose by 5 per cent, education increased by 3.3 per cent, and food and non-alcoholic beverages decreased by 3.1 per cent.

On a monthly basis, food and non-alcoholic beverages recorded the largest decrease at 3.2 per cent, while clothing and footwear increased by 0.9 per cent compared with October.

For the period January to November, clothing and footwear posted the biggest cumulative decline at 6.4 per cent.

Restaurants and hotels increased by 4.7 per cent, education by 3.7 per cent, and recreation and culture by 3.2 per cent over the same period.

In terms of unit effects, restaurants and hotels made the largest positive annual contribution to the index with 0.54 units, followed by education with 0.15 units and recreation and culture with 0.14 units.

The strongest negative annual effects came from food and non-alcoholic beverages, which reduced the index by 0.74 units, and clothing and footwear, which reduced it by 0.59 units.

The biggest monthly effect was also associated with food and non-alcoholic beverages, which lowered the index by 0.77 units compared with October.

At item level, catering services generated the largest positive annual effect with 0.53 units, while clothing reduced the index by 0.47 units and electricity reduced it by 0.45 units.

Potatoes produced the strongest positive monthly effect with 0.10 units, whereas fresh vegetables generated the largest monthly decrease with 0.79 units. Fresh fruits also declined, lowering the index by 0.11 units.