Cyprus: Inflation comes in at highest level since March 2012 in June
Consumer prices rose 0.31% in June over the previous month, moderating from May’s 0.63% rise. June’s result marked the softest rise in prices since February. The moderation was primarily driven by plunging prices for food and non-alcoholic beverages. In addition, price pressures for transportation rose at a softer rate.
Inflation rose to 3.1% in June, above May’s 2.4%. June’s reading represented the highest inflation rate since March 2012. Meanwhile, the trend pointed up, with the annual average variation of consumer prices coming in at minus 0.3% in June (May: -0.7%). Lastly, harmonized inflation rose to 2.2% in June, from May’s 1.5%.