Cyprus Mail
Business Cyprus

July inflation rate at 2.3%, Cystat says

The consumer price index rose 2.3 per cent year-on-year in July mainly on higher energy prices, the statistical service said.

Fuel prices rose an annual 14 per cent last month while electricity prices rose 11 per cent, Cystat said in a statement on Thursday.

Prices for agricultural products and services rose 5 per cent and 2 per cent respectively. The increases were partially offset by a 0.4 per cent decrease in the price of industrial products, accompanied by a 2.8 per cent reduction in water prices.

In the first seven months, consumer prices rose an annual 0.6 per cent compared with the respective period last year, Cystat said. The inflation rate in June was also 2.3 per cent.

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