Cyprus harmonised inflation steady in August

The EU-harmonised consumer price inflation (HICP) rate for Cyprus was more or les steady in August, at 2.2%, compared with 2.3% in July and a low of 1.2% in February.

Prices of food and alcoholic beverages continued to climb, rising by 6.1% year on year on August, from 5.1% in July.

Despite the poor tourism sector, hotels and restaurants jacked up prices by 5% in August, from a low of 1% in January.

Healthcare and education were also up: by 4.7% and 4.9% respectively in August.

The main downward pressure on prices was from transport, owing to the cut in car duties late in 2006. Transport prices were down 2.9% year on year in August.