InsiderBusinessAnnual inflation increased by 8.4% in 2022

Annual inflation increased by 8.4% in 2022

Annual inflation recorded an increase of 8.4%, compared to 2021, according to data published by the Statistical Service of Cyprus on Thursday.

For the period January-December 2022, the largest changes in the Consumer Price Index, compared to the same period of 2021, were recorded in the prices of housing, water, electricity, gas and other fuels, which increased by 21%, as well as in transport, which rose by 16.3%.

Nevertheless, inflation in December 2022 fell to 7.9%, compared to November 2022. The largest changes were recorded in the prices of food and non-alcoholic beverages, which decreased by 2.9% and in the prices of transport, which decreased by 2.3%.

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