Consumer price inflation in Cyprus continues to accelerate, with inflation reaching nearly 3% in February.
According to the consumer price index, prices rose 2.9% over the same month of the previous year in February, having risen by 2.4% in January and 2.1% in December.
As recently as October 2009, Cyprus was experiencing deflation.
Compared with January, prices rose by 0.49%. The Statistical Service said that this was mainly owing to increases in the prices of certain fresh vegetables, petroleum products, gas and medical care services.
Decreases were recorded in the prices of certain clothing items.
For the period January-February 2010, the CPI recorded an increase of 2.7% compared to the corresponding period of 2009.
March 05, 2010 – www.financialmirror.com