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Financial News: Cyprus Inflation Lowest In 9 Months

Cyprus Inflation Lowest In 9 Months

01/05/2023 - 09:31:00 (RTTNews)

(RTTNews) - Cyprus' consumer price inflation eased to the lowest level in nine months, mainly due to a moderation in the price growth for food and beverages, data from the Statistical Service showed on Thursday.

Consumer prices climbed 7.9 percent year-over-year in December, slower than November's 8.7 percent increase.

Moreover, this was the slowest rate of growth since March, when prices had risen 7.1 percent.

Prices for food and non-alcoholic beverages rose 12.6 percent annually in December, but slower than the 15.5 percent surge a month ago.

Utility costs were 17.09 percent more expensive compared to last year, and transport charges moved up 9.3 percent.

On a monthly basis, consumer prices decreased 1.0 percent in December.

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