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Cyprus News Agency: News in English, 13-06-06
CONTENTS
[01] Bank deposits down by 9.96% in April
[02] Deflation recorded for second consecutive month in Cyprus
[01] Bank deposits down by 9.96% in April
he flow of deposits in the domestic banking system recorded in April a
monthly drop of 9.96% or of €6.34 billion, according to data released
by the Central Bank of Cyprus, on Thursday.
The yearly outflow of deposits is even greater, since compared with
April 2012, deposits dropped by 19.87% or €14.23 billion.
The reduction of deposits during the first month of 2013 is due to an
outflow of deposits concerning euro zone countries' residents, third
country residents and Cyprus residents alike.
[02] Deflation recorded for second consecutive month in Cyprus
Deflation was recorded for a second consecutive month in May 2013,
according to data released by the Statistical Service of Cyprus,
indicating the effects on consumer habits of the recession and high
unemployment in Cyprus, and the Eurogroup decision of March.
According to the Statistical Service, the rate of inflation for May 2013
continued in negative ground and dropped further to -0.7% compared to
-0.3% in April 2013 and 2.9% in May 2012. Negative inflation of -0.3%
had also been recorded in April 2013.
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