Inflation Reaches 4.3% In Cyprus
The government of Cyprus announced last Thursday that the inflation rate had
climbed to 4.3% in January 2008 from 1.6% a year previous. The announcement was made as Consumer Price Index figures for last month were
unveiled. According to the government's Statistical Service: "The Consumer Price Index for January 2008 decreased by 1.49 units or
1.38% to 106.58 units compared to 108.07 in December 2007. This is mainly due
to decreases in the prices of clothing, footwear and household furnishing items
due to sale discounts as well as to decreases in the prices of heating oil,
diesel for motor cars and potatoes." It went on to add that: "Increases have been recorded in the prices of certain fresh vegetables
and fruit, medical care, the salaries of domestic cleaners and helpers, meals
and drinks consumed out of the house and playing machines with the use of coins
at amusement centres." The department further revealed that in addition to increasing year-on-year,
the Republic's inflation rate for January 2008 was also up on the previous month's
level of 3.9%. Issues arising from the introduction of the Euro in Cyprus on January 1st have
reportedly only had a very minor impact on the rate of inflation. .
|
|
IMPORTANT NOTICE: TAX-NEWS.COM has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright TAX-NEWS.COM 1999 to 2007. Contact us for further information.