Cyprus Business Now

Inflation in Cyprus reached 4.4 per cent during October of this year, according to the European statistical service (Eurostat).

Cyprus’ inflation figure is slightly above the European Union average of 4.1 per cent.

October’s inflation percentage was up 0.8 per cent from September’s figure of 3.6 per cent, while the inflation rate in the same month of the previous year was -1.4 per cent.

Eurostat notes that inflation rose in all EU member states month-on-month.

Regarding the European Union average of 4.1 per cent, this reflects a 0.7 per cent increase over September’s figure of 3.4 per cent, while the inflation rate stood at -0.3 per cent in October of 2020.

The total assets of investment institutions increased by 16 per cent quarter-on-quarter during the third quarter of 2021, setting a new historical record at €8.535.6 billion, according to data released on Thursday by the Central Bank of Cyprus (CBC).

The central bank report adds that the number of investment firms increased from 224 in June 2021 to 235 in September 2021, while their total assets increased significantly, jumping by 16 per cent to € 8.535.6 billion in September. 2021.

This represents an increase of €1.180.9 billion from June’s figure when the total amount of assets stood at € 7.354.7 billion.

The Harmonised Index of Consumer Prices (HICP) increased by 4.4 per cent year-on-year in October, according to the Cyprus Statistical Service (Cystat).

This is the eighth month in a row where the index has experienced an increase, primarily due to the rising cost of electricity.

October’s index increase is 0.9 per cent higher than September’s figure of 3.5 per cent, but 0.5 per cent lower than August.

Between the months of January and October of this year, the consumer prices index increased by 1.8 per cent year-on-year, the Cystat report added.

The Cyprus Stock Exchange (CSE) ended Thursday, November 18 with profits.

The main Cyprus Stock Market Index was at 67.34 points by 12:47 during the day, reflecting an increase of 0.07 per cent over the previous day.

The FTSE / CySE 20 Index was at 40.29 points, representing an increase of 0.1 per cent. The total value of transactions came up to €6,776.5.

In terms of sub-indexes, the main index fell by 0.07 per cent, while the investment firm index remained stable.

The biggest investment interest was attracted by Amathus Ltd (+2.07 per cent), Pandora (+10 per cent), Louis PLC (no change), Constantinou Bros Hotels (-1.28 per cent) and Tsokkos Hotels (+0.53 per cent).