Cyprus: Inflation jumps in August
September 2, 2021
Consumer prices jumped 1.55% in August over the previous month, following the 0.11% rise in July. August’s result marked the highest print in over 15 years. August’s upturn was largely attributed to higher prices for food and non-alcoholic beverages. Moreover, prices for clothing and footwear rebounded over the previous month.
Inflation came in at 5.0% in August, following July’s 4.0%. August’s reading represented the highest inflation rate since September 2008. Accordingly, the trend pointed up, with the annual average variation of consumer prices coming in at 0.7% in August (July: 0.2%). Lastly, harmonized inflation rose to 3.3 in August from 2.7% in July.