DATA SNAP: Cyprus July CPI -0.8% On Year Vs +0.2% In June

ATHENS -- Consumer prices in Cyprus fell in July, the first decline since October 1986, dropping 0.8% on the year, data Thursday showed.

In June, the consumer price index rose 0.2% annually, the national statistics service said.

In monthly terms, consumer prices fell 1.6% in July, compared with a 0.14% drop in March. The monthly drop "was mainly due to decreases in the prices of clothing, footwear and furnishing due to summer sale discounts as well as to decreases in the prices of certain fresh fruit and vegetables," the statistics service said. It also said increases have been recorded in the prices of potatoes, electricity and gas.

The data showed the largest year-on-year increases included a 4% rise in the heavily weighted basket for food and non-alcoholic beverages; a 7.1% rise in health prices and a 5.2%rise in restaurant and hotel prices.

However, these price increases were largely offset by a sharp 11.1% year-on-year drop in fuel-sensitive transport prices, a 7.5% drop in clothing and footwear prices and a 3.7% drop in housing, water, electricity and gas prices.

For the January to July period, the consumer price index rose 0.5% on the year.