Cyprus Inflation Hits 3.5% in May as Euro Area Price Growth Rises to 3.2%
Updated
Updated · Cyprus Mail · Jun 19
Cyprus Inflation Hits 3.5% in May as Euro Area Price Growth Rises to 3.2%
1 articles · Updated · Cyprus Mail · Jun 19
Summary
Cyprus posted 3.5% annual inflation in May and a 0.7% monthly increase, underscoring renewed cost-of-living pressure on the island.
Cold cuts, coffee and baby food were among the items driving prices higher, even as some fresh produce categories recorded monthly declines.
Euro area inflation rose to 3.2% from 3.0%, while the wider EU rate edged up to 3.3% from 3.2%; services contributed the most to euro-zone price growth, followed by energy.
Across the EU, inflation ranged from 1.1% in Sweden to 9.7% in Romania, while Cyprus authorities pointed shoppers to the e-kalathi tool as supermarket price gaps narrowed but remained significant.