Cyprus inflation climbs again to 2.6% in July

Consumer price inflation rose for the second straight month in July, as prices rose by 2.6% over the year earlier, up from 1.9% in June and 1.6% in May.
The clear culprit is petroleum, with prices up 20.1% over the year earlier in July and 16.0% in June.
The government increased petrol taxes in June but petrol prices had already been rising in response to higher international prices for oil.
High petrol prices have pushed up the price of housing, water, electricity and gas, prices of which rose by 8.4% over the year earlier in January-July.
For the period January-July 2010, the overall consumer price index rose by 2.3% compared to the corresponding period of 2009.