News Economy Cyprus' inflation hits 4-year high due to electricity

Cyprus' inflation hits 4-year high due to electricity

Cyprus Harmonised Index of Consumer Prices (HICP) reached 1.5% in March 2017 recording a four-year high since February 2013, according to data released on Tuesday by the island’s Statistical Service.
 
HICP was pushed upward mainly by electricity which recorded an increase of 17.1% with the categories of housing, water, electricity, gas and other fuels and food and non-alcoholic beverages, registering the highest increase with 10.2% and 4.8% respectively.
 
Compared with February 2016 HICP accelerated by 0.9% mainly driven by clothing and footwear that rose by 10.1%.
 
For the period of January – March 2017, HICP increased by 1.3% year on year driven by housing, water, electricity, gas and other fuels that rose by 6.8%. Transport increased by 3% while food and non-alcoholic beverages rose by 2.6%.
 
Source: CNA
 
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