Cyprus: Inflation hits over decade high in July
July’s moderation was largely attributed to a softer increase in prices for restaurants and hotels as well as nosediving prices for clothing and footwear.
Meanwhile, prices for food non-alcoholic beverages bounced back in July.
Inflation came in at 4.0% in July, following May’s 3.1%.
July’s reading represented the highest inflation rate since June 2011.
Accordingly, the trend pointed up, with the annual average variation of consumer prices coming in at 0.2% in July (June: -0.3%).
Lastly, harmonized inflation rose to 2.2% in June, the last month for which data is available, from May’s 1.5%. ■