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Cyprus Inflation Accelerates Sharply


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Cyprus’ consumer price inflation accelerated for the seventh successive month in April, largely driven by higher costs for utilities and transport, data from the Statistical Service showed on Thursday.

The consumer price index rose 8.8 percent year-on-year in April, following a 7.1 percent increase in March. This was the highest rate of growth since the current trend of rising prices began in April 2021.

Utility costs surged 21.1 percent in April compared to same month last year. Costs for transport registered a sharp rise of 18.0 percent and prices of food and non-alcoholic beverages climbed 11.0 percent.

On a monthly basis, consumer prices rose 2.4 percent in April.

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