Insider Business Rising electricity and fuel prices push up August inflation to 2.5%

Rising electricity and fuel prices push up August inflation to 2.5%

Annual inflation in August 2018 rose to 2.5% compared with 2.3% in the previous month, pushed up by rising prices in electricity and energy, the Cyprus Statistical Service (Cystat) said on Thursday.

According to Cystat, inflation for the period of January – August 2018 rose by 0.9% compared with the respective period of 2017.

For August 2018, the Consumer Price Index (CPI) increased by 0.66 units reaching 100.98 units compared with 100.32 units in the previous month.

According to Cystat, the highest changes compared with the index of August 2017 were registered in Electricity and Fuel which rose by 13.1% and 12.9% respectively.

The highest rise compared with July 2018 was recorded in Agricultural Products which increased by 6.6%, Cystat added.

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