Cyprus inflation October 2022

Coordinated inflation eased to 8.6% in October from 9.0% in September. The October result represented the lowest inflation rate since April. The slowdown in price pressures was largely due to small increases in housing, utilities, and transportation prices. However, food inflation accelerated further.

Harmonized annual average inflation rose to 7.6% in October (September: 7.2%). Meanwhile, consumer price inflation rose to 8.8% in October from 8.7% in September.

Finally, harmonized consumer prices rose 0.54% in October from the previous month, bouncing back from the 1.03% decline recorded in September.

FocusEconomics panelists expect coordinated inflation to average 4.0% in 2023, 0.1 percentage point lower than last month’s forecast, and 2.1% in 2024.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *