Inflation in Cyprus spiked to 2.5% in 2021, reaching a ten-year high reflecting the price hikes in basic goods and mainly the steep increase in energy following the 2020 COVID disruption.
According to data released by the Statistical Service of Cyprus (Cystat), the inflation spike was driven mainly by the Transport sector which in 2021 rose by 8.7% year on year and Housing, Water, Electricity, Gas and Other Fuels which rose by 7.2%, whereas the largest negative change was registered in Communication with -1.4%.
In December 2021, the Consumer Price Index decreased by 0.26 units and reached 105.10 units compared to 105.36 units in November 2021.
The annual inflation rate in December 2021 amounted to 4.8%, Cystat added.
Source: Cyprus News Agency