Cyprus inflation in August 2022

Coordinated inflation came in at 9.6% in August, down from 10.6% in July. The reading was driven by moderate price pressures for food and non-alcoholic beverages, housing and utilities, and transportation.

The trend pointed to the upside, with the annual coordinated average inflation reaching 6.8% in August (July: 6.3%). Meanwhile, consumer price inflation fell to 8.9% in August, from 10.9% in July.

Finally, HS consumer prices rose 0.51% in August from the previous month, without July’s 1.69% increase. The August result posted the lowest reading since January.

FocusEconomics committee members expect the coordinated inflation rate to reach 7.7% in 2022, 0.2 percentage points higher than last month’s forecast, and 3.0% in 2023.

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