Cyprus News Agency: News in English, 16-10-11

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] Harmonised inflation continues in negative territory for 22nd

straight month in September

[02] The Coop sector will not have capital needs under the current

einviroment FinMin official says

[01] Harmonised inflation continues in negative territory for 22nd straight month in September

Cyprus Harmonised Index of Consumer Prices (HICP) in September 2016 declined by 0.4% year on year continuing deflationary pressures that began in December 2014, according to the Cyprus Statistical Service (CyStat).

Negative HICP is mainly due to significant reduction in energy prices.

Compared to September 2015, the categories with the biggest negative changes were transport (-6.0%) and housing, water, electricity, gas and other fuels (-5.8%), while an increase of 3.0% was recorded in food and non-alcoholic beverages.

As regards to the economic origin, the largest change as compared to the index of September 2015 was in energy, where a decrease of 7.6% was observed.

For the period January - September 2016 the HICP marked a decrease of 1.4% compared to the corresponding period of the previous year, CyStat said.

Bet ...

(CNA)

*The full text of the news item is available in the paid version of the CNA web service.

*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.

[02] The Coop sector will not have capital needs under the current einviroment FinMin official says

In current environment, the Cooperative Central Bank will not have any capital needs, Dionysis Dionysiou, Head of the Management Unit for the cooperative sector in the Ministry of Finance has said.

Briefing the parliamentary committee of Finance, Dionysiou noted that in case any capital needs arise the CCB will have to proceed with a capital raise until June 30 2017, otherwise the CCB will have to raise capital by September 2018.

He noted however that market disruptions due to Brexit or other international developments, such as the downturn in the Italian banks and Deutsche Bank may cause the need for new capital.

(CNA)

*The full text of the news item is available in the paid version of the CNA web service.

*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.

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