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Financial News: Cyprus HICP Inflation Accelerates Sharply In June

Cyprus HICP Inflation Accelerates Sharply In June

07/16/2021 - 06:01:00 (RTTNews)

(RTTNews) - Cyprus' harmonized inflation accelerated strongly in June to its highest level in over eight-and-a-half years, preliminary figures from the statistical office showed Friday.

Inflation, based on the harmonized index of consumer prices or HICP, rose to 2.2 percent from 1.5 percent in May. The latest inflation rate was the highest since October 2012, when it was 2.6 percent.

The biggest increase of 8.4 percent was logged in each of the transport and utilities & fuels components.

Compared to the previous month, the HICP rose 1.0 percent in June. Prices in restaurant and hotels rose 2.5 percent and those in clothing and footwear grew 2.2 percent.

For the January - June period, the HICP grew 0.6 percent from a year ago.

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