Inflation hits historic high in Cyprus reaching 7.1% in March

Inflation in Cyprus soared to 7.1% in March 2022, continuing its upward trend for the twelfth consecutive month.

It is the highest recorded at least since 1995.

According to the Statistical Service of Cyprus, the Consumer Price Index increased by 1.94 units and reached 107.78 units compared to 105.84 units in February 2022.

For the period January-March 2022, the CPI increased by 6.4% compared to the corresponding period of the previous year.

Analysis of percentage changes
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Compared to March 2021, the largest changes were seen in Housing, Water, Electricity, Gas and Other Fuels (16.6%) and Transport (14.0%).

In comparison to the CPI of the previous month, the largest change was noted in Clothing and Footwear (8.7%).

For the period January – March 2022, compared to the corresponding period of the previous year, the largest changes were recorded in Housing, Water, Electricity, Gas and Other Fuels (14.7%) and Transport (14.1%).