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Cyprus inflation sets high since 1981

NICOSIA
2022-08-05 00:24

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NICOSIA, Aug. 4 (Xinhua) -- Inflation in Cyprus went further up in July by 10.9 percent on a yearly basis, the Statistical Service of the Ministry of Finance (CYSTAT) said on Thursday.

CYSTAT said in an announcement that the rise in inflation was the highest since August 1981. It was also 1.30 percentage points higher than June.

CYSTAT said that the biggest hikes in prices were recorded in electricity, which went up by 61.7 percent and in petroleum products, which rose by 44.1 percent.

The rise in energy prices was the direct result of the crisis over Ukraine, CYSTAT said.
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