Cyprus inflation is well over 3% in April

The annual consumer price inflation rate leapt to 3.3% in April, from 2.8% in March 2011 and 2.4% in April 2010.
Doubtless the reason was high international oil prices, which have taken their toll on an economy that remains dependent on oil for electricity production.
Compared with the previous month the index increased by 1.16%.
The Statistical Service reported that this was mainly due to increases in the prices of certain clothing and footwear items, electricity and petroleum products.
Decreases were recorded in the prices of certain fresh vegetables and fresh lamb’s meat.
For the period January-April 2011, the annual consumer price inflation rate is 2.9%.