Cyprus Harmonised Inflation Remains at 3% in June

Cyprus Harmonised Inflation Remains at 3% in June

Significant Increases Noted in Electricity, Housing, and Hospitality Prices

The annual rate of increase in the Harmonized Consumer Price Index (HCPI) remained at 3% in June, consistent with the previous month. Notable price increases were observed in electricity, housing, water, and prices in restaurants and hotels.

Based on data from the Statistical Service, the HCPI showed a yearly increase of 3.0% in June, with a monthly rise of 0.4% compared to the previous month.

For the period from January to June 2024, there was an increase of 2.3% compared to the same period last year.

Compared to June 2023, the categories of Housing, Water, Electricity, and Liquefied Gas (6.4%) and Restaurants and Hotels (5.3%) exhibited the largest positive changes.

Compared to May 2024, the largest changes were in the categories of Restaurants and Hotels (2.0%) and Transportation (-1.5%).

Regarding economic categories, the highest annual increases in June were seen in Energy at 9%, Services at 3.8%, and Food, Alcoholic Beverages, and Tobacco at 2.3%.

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