Cyprus inflation slips back below 3% in April

The consumer price inflation rate in Cyprus eased in April, having flipped over 3% in March.

Prices, as measured by the consumer price index, rose in April by 2.96% compared with the same month of 2005, having risen by 3.23% in March.

On a month-on-month basis, prices rose by 1.1% in April, having risng by 0.6% in March.

The sharpest year-on-year increase was recorded in the prices of housing, water, electricity and gas: up by 7.01% year on year and by 1.1% compared with the previous month.

Food and non-alcoholic beverages, transport and education all recorded large increases on the year earlier.

Food rose by 5.55% year on year and by 0.2% compared with the previous month. Transport (affected by high oil prices) rose by 4.54% year on year and a large 1.4% compared with the previous month. Education rose by 4.55% year on year an zero compared with the previous month, since education price increases tend to come into force all at once at the beginning of the academic year. FM