Cyprus Inflation Eases To 2.9% In July

(RTTNews) - Cyprus' consumer price inflation moderated somewhat in July from a 32-month high in the previous month, preliminary data from the statistical office showed on Thursday.

The consumer price index climbed 2.9 percent year-on-year in July, slower than the 3.1 percent increase in June, which was the highest inflation rate since October 2023.

Inflation based on transportation slowed to 6.0 percent from 8.3 percent a month ago. Similarly, the annual price growth in food and non-alcoholic beverages softened to 4.9 percent from 5.1 percent.

Meanwhile, housing and utility costs grew at a faster pace of 7.2 percent versus 5.6 percent in June, while the deflation in clothing and footwear prices eased to 5.9 percent from 7.7 percent.

On a monthly basis, consumer prices decreased 0.7 percent in July.