Consumer prices surged 4.3% in September, fueled by food and beverages

The Harmonised Consumer Prices Index (HCPI) in Cyprus witnessed a 4.3% increase in September, marking its second consecutive rise, primarily propelled by surging prices in Food and Non-Alcoholic Beverages, according to data from the Cyprus Statistical Service (CyStat). Compared to August 2023, the HCPI rose by 0.2%.

For the period spanning January to September 2023, the HICP exhibited a 4.4% increase compared to the corresponding period in the previous year, CyStat reported. The most significant changes were observed in Food and Non-Alcoholic Beverages, rising by 10.2%, and Restaurants and Hotels, which saw a 5.9% increase when compared to September 2022. Furthermore, in comparison to August 2023, the most notable change was registered in the category of Clothing and Footwear, reflecting a 7.6% rise.

Regarding the economic origin of these changes, the most substantial annual shift was recorded in Food-Alcoholic Beverages-Tobacco, marking an 8.5% increase, as per CyStat's data.

[Information sourced from CNA]