Home / Business / Local Business / North’s inflation goes through the roof

North’s inflation goes through the roof

Inflation in the north of Cyprus seems to be sky-rocketing as it rose by almost 16% in just a year.

The Consumer Price Index in the north recorded an increase of 15.95% in July 2017 in comparison to July last year and 9.29% from December 2016.

Related stories

According to data released by the Turkish Cypriot Planning Organisation, July inflation figures also rose by 1.5% from June 2017.

The report shows that prices of 10 out of the 12 main commodity groups which compose the Consumer Price Index in the north, recorded an increase from June 2017.

The three products which saw the biggest increase in their prices were fresh beans which rose by 89.68%, the public lottery ticket by 66.67% and lemons by 62.8%.

In comparison to June 2017 the main commodity groups with the biggest price increases are: Hotels and Restaurants with a 7.79%, food and alcohol free beverages with 2.25, house hold appliances and services by1.65% and entertainment by 1.55%.

Check Also

Unemployment rate drops to 10.6% in Q2

The number of people out of work in the second quarter of 2017 was 10.6% …

European Commission team looking at Larnaca Port concerns

The EP Committee on Petitions (PETI) is conducting a fact-finding mission in Larnaca between Wednesday …