Inflation Rate Hits Three-Year Low in September
In September 2024, the inflation rate plummeted to a threeyear low of 0.7 percent in Cyprus, primarily driven by a sharp decline in oil prices, which saw petroleum products drop by 11.40 percent from the previous year. This significant shift in the economy has influenced various sectors, particularly leading to a 6.3 percent decrease in transportation costs, while other areas like restaurants and hotels saw inflation rise by 5.6 percent.