Cyprus Inflation August 2021

Cyprus

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.

FocusEconomics panelists project harmonized inflation to average 0.9% in 2021, which is down 0.1 percentage points from last month’s forecast and 1.2% in 2022.


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Cyprus Inflation August 2021 0

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Statistical Service of Cyprus.


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