Inflation in South Cyprus increased in August

In South Cyprus inflation, which had been falling in previous months, rose by 3 percent in August. According to information published by the Fileleftheros newspaper based on Eurostat data, the inflation rate, which stood at 2.4 percent in July, rose to 3 percent in August.

The newspaper notes that while this year's inflation rate is lower than last year, the August 2023 increase raises concerns that prices will continue to rise in the coming months.

Another worrying trend highlighted in Eurostat data is that food inflation is not falling and is two and a half times the overall inflation rate.