Financial News: Cyprus Consumer Price Inflation At 6-month High

Cyprus Consumer Price Inflation At 6-month High

01/02/2025 - 09:12:00 (RTTNews)

(RTTNews) - Consumer price inflation in Cyprus accelerated sharply in December to its highest level in six months driven mainly by food prices, preliminary data from the statistical office showed Thursday.

The consumer price index rose 2.6 percent year-on-year following a 1.5 percent increase in the previous month. The inflation rate was the highest since June, when it was 2.9 percent.

The food and non-alcoholic beverages component registered a 7.58 percent increase, and this was followed by a 4.37 percent climb in prices in restaurants and hotels.

<a href=https://www.rttnews.com/3500024/cyprus-producer-prices-continue-to-fall.aspx target=_blank >Cyprus Producer Prices Continue To Fall</a> <a href=https://www.rttnews.com/3499845/cyprus-industrial-output-grows-2-0-in-october.aspx target=_blank >Cyprus Industrial Output Grows 2.0% In October</a>

Prices in the clothing and footwear group decreased 2.64 percent, thus having the biggest negative impact on the CPI.

Consumer prices edged up 0.1 percent from the previous month.

Inflation was 1.81 percent for the full year 2024, which was much lower than the 3.53 percent logged in the previous year. Yearly inflation was the lowest in four years.

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