Cyprus: Harmonized inflation falls to lowest level since February 2022 in March
Harmonized inflation came in at 6.1% in March, which was down from February’s 6.7%. March’s reading marked the lowest inflation rate since February 2022. Looking at the details of the release, prices for food and non-alcoholic beverages and for transportation increased at a slower rate in March.
Annual average harmonized inflation remained at February’s 8.3% in March. Meanwhile, consumer price inflation fell to 5.8% in March, from February’s 6.7%.
Lastly, harmonized consumer prices increased 1.27% in March over the previous month, accelerating from the 0.82% rise seen in February. March’s uptick was the sharpest increase in prices since July 2022.