Cyprus Mail
Business Cyprus

June inflation rate accelerates to 2.3%

The annual inflation rose last month to 2.3 per cent from 1.3 per cent the month before mainly on more expensive energy products, the statistical service said.

Fuel prices rose an annual 11 per cent while electricity prices rose 5.6 per cent, Cystat said in a statement on Thursday. Agricultural products became 9.1 per cent less affordable and prices for services rose 2.1 per cent.

The overall increase in prices was partly offset by 2.8 per cent drop in water prices and 0.3 per cent decline in prices of industrial products other than fuel, Cystat said.

Consumer prices in the first six months of the year rose 0.3 per cent compared to the respective six-month period of 2017, Cystat said.

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