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12° Nicosia,
04 December, 2022
 
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Inflation still high but slowed to 9.6% in August

For the period January to August 2022, there was an increase of 8.0% year on year.

Source: CNA

Harmonized inflation rose at a slower pace than in the previous month in August 2022, recording an increase of 9.6%, compared with August last year.

Specifically, as reported by the Statistical Office, citing Eurostat's flash estimate, the Harmonised Index of Consumer Prices and consequently the harmonized inflation rate in August 2022 increased by 9.6%, compared to August 2021, while compared to the previous month it increased by 0.5%.

For the period January to August 2022, there was an increase of 8.0% year on year.

In July 2022, the Harmonised Index of Consumer Prices had increased by 10.6%, compared to July 2021.

Compared to August 2021, the categories Housing, Water, Electricity & LPG (30.0%) and Transport (19.5%) showed the largest changes.

Compared to July 2022, the largest change was recorded in the Recreation and Culture category (2.6%).

For the period January to August 2022 compared to the same period last year, the largest changes were observed in the categories of Housing, Water, Electricity and Gas (21.6%) and Transport (16.0%).

The largest change in the economic categories compared to both August 2021 and the previous month was observed in the Energy category with rates of 40.6% and -5.0% respectively.

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Cyprus  |  inflation  |  economy  |  business

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