Consumer prices soar in December, but annual increase down

HIGHER fuel prices pushed Cyprus’s consumer inflation to a year high of 3.9 per cent year on year in December after a November reading of 3.5 per cent, the statistics department said yesterday. But for the whole year, the CPI index rose by 2.4 per cent, down from 2.5 percent in 2006, it said.

Month on month, the CPI index increased by 0.32 per cent to 108.07 points in December compared to 107.73 in November.

December’s year on year figure was the third successive month of year highs, after 3.5 per cent in November and 3.0 per cent in October.

The statistics department said there were increases in the prices of fresh produce, electricity and petrol and a reduction in the prices of heating fuel and fresh milk.

Over the year, there was a 10.8 per cent increase in the price of petrol, a 6.2 per cent increase in healthcare costs, a 5.6 per cent rise in food and beverage prices and a 4.9 per cent increase in education fees.

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