April Inflation Rate Falls to 3.1% vs. 3.4% in March

The inflation rate fell to 3.1 percent in April compared to 3.4 percent in March, said the Cyprus Statistical Service (CYSTAT).

The rate may be adjusted later in the month because this figure is the first estimate. April's CPI rose 1.05 units to 120,05 compared to 119 in March mainly on increases in the prices of clothing, footwear, electricity and petroleum products.

For the period January-April 2012, the CPI rose 3.2 percent compared to the same period in 2011, said CYSTAT.

Central banks usually try to keep the inflation rate between 2-3 percent for a healthy economy.

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