Inflation decelerates in October

Cyprus’ inflation rate showed signs of decelerating in October following two months of price increases, dropping 0.7% to 3.5%. According to data from the Cyprus Statistical Service, the October Consumer Price Index

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Tighter lending meets lower loan demand

During the second quarter of 2023, the lending criteria for businesses and households remained strict, indicating the caution of banks. At the same time, there was a decrease in loan demand, attributed

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Budget safeguards fiscal stability

The 2024 state budget aims to safeguard fiscal stability while promoting green transition and digital transformation, ushering in a more modern economy, Finance Minister Makis Keravnos said. Keravnos presented the next year’s

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IMF revises Cyprus GDP down to 2.2%

International Monetary Fund (IMF) World Economic Outlook forecasts that Cyprus’ growth rate for 2023 will slow to 2.2% GDP, down from the 2.5% it had projected in April. For 2024, the IMF

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Food inflation rampant

Cost-of-living continued to hike in September, with consumers receiving the largest shock in their groceries, as fresh produce prices increased 45.8%, compared to last year when they receded 17.8%. The second biggest

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Food, petrol prices push up inflation

Rising food and pump prices took annual inflation higher in September, surging to 4.0%, according to the Consumer Price Index (CPI). The CPI increased by 1.33 units, reaching 117.67 units, from 116.34

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