Cyprus’ inflation increases to 2.7 in August

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Cyprus’ inflation reached 2,7 percent in August 2012, on annual basis, from 2,2% in July this year, according to data released Thursday by Eurostat, showing an increase in the inflationary pressures following a decrease in the inflation in June to 1.8%, which is the lowest in 2012.

The increase in the consumer price index or inflation, according to the Statistical Service, “is mainly due to increases in the prices of certain fresh vegetables and fruit, petroleum products and potatoes.”

Decreases have been recorded in the prices of electricity and certain clothing items.

On a monthly basis, the Consumer Price Index for August 2012 increased by 0.64 units or 0.54% and reached to 119.05 units, compared to 118.41 in July 2012.

In August 2011, the annual inflation rose to 2.9%.

For the period January – August 2012, the CPI recorded an increase of 2.8% compared to the corresponding period of 2011.

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