Monday, a report from the Statistical Service of the Republic of Cyprus said the harmonized index of consumer prices or HICP rose 0.6% year-on-year in April, slowing from a 0.9% increase in March.

During the month, food and non-alcoholic beverage prices grew at a slower pace of 5.7% compared to a 9.1% rise in March. The price rise for alcoholic beverages and tobacco slowed to 2.5% from 2.8%. The price rise in recreation and culture also eased in April. At the same time, the price of utilities dropped at a faster pace in April, by 9% compared to an 8.7% fall in March.

Month-on-month, the HICP rose 0.89% in April compared to a 1.37% increase in the preceding month.

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