Harmonized inflation down to 1.6% in September

Annual Harmonized inflation of Consumer Prices (HICP) declined to 1.6% in September from 2.2% in August, driven by the decline in energy prices.

According to data released from the Statistical Service of Cyprus, HICP in September mounted to 119.41 units from 119.888 units in August 2024.

For the period January – September 2024, the HICP rose by 2.3% compared to the corresponding period of the previous year.

In terms of economic origin, the largest change, was recorded in Energy with an annual reduction of 8% and a fall of 2.9% compared with the previous month of 2024.

Compared to September 2023, the largest positive changes were noted in Recreation and Culture with 7.4% and Restaurants and Hotels 5.7%, Cystat added.