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Cyprus: Inflation hits over decade high in July

Christian Fernsby |
Consumer prices rose 0.11% July over the previous month, cooling from June’s 0.31% rise.

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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%.

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