Cyprus Retail Sales Growth Eases To 7.0%

(RTTNews) - The retail sales growth in Cyprus moderated in August after accelerating in the previous month, data from the Central Statistics Office showed on Friday.

The value of retail sales rose 7.0 percent year-on-year in August, slower than the 8.9 percent surge in July, which was the highest growth in six months.

The annual sales growth in food, beverages, and tobacco in non-specialized stores eased to 5.1 percent from 6.0 percent, and sales growth in information and communication equipment softened to 24.8 percent from 25.6 percent.

Meanwhile, sales of food, beverages, and tobacco in specialized stores continued to decline by 1.0 percent, and automotive fuel sales dropped 1.5 percent.

Data also showed that the yearly growth in value of retail sales slowed to 9.3 percent from 11.0 percent in July.