05/05/2023 09:40
The annual inflation in April in Cyprus dropped to 3.7% registering the lowest reading of the last twenty-one months, driven by the reduction in oil prices.
According to data released by the Statistical Service (Cystat) the Index of Consumer Prices in April amounted to 114.39 units, compared with 114.03 in March 2023. Compared with April 2022 inflation amounted to 3.7% which is the lowest rate since July 2021.
For the period of January – April 2023, inflation amounted to 5.8% year on year.
The largest positive annual percentage changes were registered in the categories of Electricity with 8.8%, in Industrial Products with 7.2%, while petroleum products registered a decline amounting to 7.2% year on year.
Compared with March 2022, the biggest negative change was recorded in Electricity wit 5.8%, Cystat added.