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28° Nicosia,
22 August, 2019
 

Latest inflation figures point up

Cyprus remains vulnerable to fuel and energy price hikes as inflation reaches 2.5% in August 2018

Newsroom

Inflation is on the rise in Cyprus amid hikes in fuel prices with the annual rate reaching 2.5% last month, almost one percentage point compared to last year until August.

According to government figures, inflation from January to August in 2018 rose 0.9% compared to the same period in the previous year.

In August 2018, the Consumer Price Index went up by 0.66 to reach 100.98 units, compared to 100.32 in the previous month.

Authorities have being on the receiving end of criticism for failing to act in shifting energy solutions towards clean energy

The state’s Statistical Services Department says last month’s biggest fluctuations compared to August 2017 were recorded in Electricity and Petroleum products with increases of 13.1% and 12.9% respectively.

Both domains have drawn interest in the media recently, with authorities being on the receiving end of criticism for failing to act in shifting energy solutions towards clean energy.

Cyprus had the highest increase in household electricity prices in national currency between the first half of 2016 and the first half of 2017.

Agricultural products also registered a 6.6% price increase compared to July 2018.

TAGS
Cyprus  |  economy  |  inflation  |  fuel  |  price  |  electricity  |  gas  |  petrol  |  clean energy

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