Cyprus: Inflation comes in at highest level since our records began in July
Consumer prices rose by 1.24% in July, picking up from the 0.78% increase recorded in June. Looking at the details of the release, housing and utilities prices rose at a quicker pace in July compared to the previous month, while price pressures for transportation eased but remained elevated.
Inflation rose to 10.9% in July, following June’s 9.6%. July’s reading marked a multi-decade high. Meanwhile, the trend pointed up, with annual average inflation coming in at 6.7% in July (June: 6.1%). Finally, harmonized inflation rose to 10.6% in July, from June’s 9.0%.