June inflation rate accelerates to 2.3%

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By Stelios Orphanides

The annual inflation rose last month to 2.3 per cent from 1.3 per cent the month before mainly on more expensive energy products, the statistical service said.

Fuel prices rose an annual 11 per cent while electricity prices rose 5.6 per cent, Cystat said in a statement on Thursday. Agricultural products became 9.1 per cent less affordable and prices for services rose 2.1 per cent.

The overall increase in prices was partly offset by 2.8 per cent drop in water prices and 0.3 per cent decline in prices of industrial products other than fuel, Cystat said.

Consumer prices in the first six months of the year rose 0.3 per cent compared to the respective six-month period of 2017, Cystat said.

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About Author

Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]

  • Philippos

    Something is fundamentally wrong with Cyprus. No proper rainfall here again for a second year running and WATER PRICES WENT DOWN !!!!!!!!! (Bet consumption didn’t?)

    • A is B

      Your joking, where I live the reservoirs are full to over flowing, a few are leaking though. But you are right with regards cost, cant upset those watering down their drives can we

  • Garry Smith

    How can water prices have gone down? With drought conditions, farmers being compensated because they cannot grow crops and desalination plants working flat out (powered by more expensive fuel), how can this possibly make sense?
    Ooops, sorry, I forgot where I was for a moment.

  • JS Gost

    Another easy set of figures to fudge, after all we live in the worlds biggest fudge factory. Like a recovery is in full swing, NPL’s are reducing, the banking sector is making a profit and interest in real estate is flocking in…..

    • Cydee

      Only if you’re high on zzzzzzzs

  • peemdubya

    Inflation up mainly due to expensive energy products – so how come fuel prices at the pumps went down a week ago????