Inflation in South Cyprus sees an uptick in august, raises concerns
The inflation rate in South Cyprus, which had been on a downward trend in previous months, was reported to have increased in August.
According to a report based on data published by the European Statistical Office Eurostat, the inflation rate, which was 2.4% in July, rose to 3% in August.
The newspaper noted that the August 2022 figure was 9.6%, and despite this year's inflation values being lower compared to the previous year, the increase in August 2023 raised concerns as it indicated that prices would continue to rise in the coming months.
The report also highlighted another concerning aspect of Eurostat data, which is the relentless rise in food inflation, being more than two and a half times higher than the general inflation. In South Cyprus, the rate of increase in food, alcohol, and tobacco prices remained at 8.9% in June, 8.7% in July, and 8.6% in August.
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