Cyprus Feb inflation steady after VAT spike in Jan

Cyprus's consumer price inflation was steady at 2.8% year-on-year in February, unchanged from January, with prices rising 0.43% on the month due mainly to rises in fuel and food costs.
The island's statistics department said on Thursday that prices of petroleum products, air fares and fruit and vegetables all rose while there was a drop in those for electricity and gas.
Inflation has been running higher on the Mediterranean island this year, in part because of a 5% value added tax introduced on foodstuffs and pharmaceuticals in early January. The reading for January jumped to 2.8% from 1.6% in December.