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Inflation spikes to 2.4% in May

03/06/2021 15:51

Inflation in Cyprus spiked to an annual 2.4% in May marking its second consecutive rise, pushed upwards by rising prices in transport and petroleum products.

However, according to data released on Thursday by Cyprus Statistical Service (Cystat), for the period January-May 2021, the Consumer Price Index (CPI) decreased by 0.1% compared to the corresponding period of the previous year.
In May 2021, the CPI increased by 0.64 units and reached 102,07 units compared to 101.43 units in April 2021.
The sectors of transport, Housing Water Supply, Electricity and Gas in May showed the largest percentage change compared with May 2020 with 13.1% and 4.4% respectively, CyStat added.
Petroleum products spiked by 24.96% compared with May 2020, while the monthly rise was just 2.11%.