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Cyprus records lowest inflation rate in 25 months

Cyprus experienced a significant decline in inflation during June 2023, reaching its lowest level in the past 25 months, according to a report released this week. The inflation rate was measured at 1.9 percent on an annual basis, primarily attributed to a reduction in food prices. According to the Cyprus Statistical Service (Cystat), the Consumer Price Index (CPI) and consequently the inflation rate decreased by 0.34 units, settling at 114.38 units compared to 114.72 units in May 2023. This inflation rate represents a 1.9 percent increase from June 2022, marking the lowest inflation percentage since May 2021.

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