Cyprus inflation reaches 2.8% in March

According to an official press release, the Consumer Price Index for March 2011 increased by 1,12 units or 0.98% to 115,12 units compared to 114,00 in February 2011.

According to Cyprus Statistical Service, this is mainly due to increases in the prices of certain clothing items, petroleum products, water rates, certain fresh fruit and electricity. Decreases have been recorded in the prices of certain fresh vegetables.

The rate of increase of the Index, and therefore the rate of inflation, for March 2011 amounted to 2.8% remaining at the same level as in February 2011 and higher than the inflation rate of 2.4% recorded in March 2010.