Cyprus HICP inflation climbs to 2.7% y/y in October

Food prices fall

 

The harmonised consumer price inflation rate (HICP) was 2.7% in October, up from 2.3% in September and 1.7% in October 2006.

The consumer price inflation rate, measured on a slightly different basis, was 3% in October.

Compared with the previous month, the biggest jump in the HICP was clothing and footwear, up 13.3%, after a 6.1% increase in September.

The price of food and non-alcoholic beverages fell compared with September, as a result of a cut in VAT on confectionery and soft drinks from 15% to 5% announced in September.