Cyprus recorded one of the highest inflation rates in the eurozone in August, with the harmonised consumer price index rising to 5.2% year-on-year, according to Eurostat's preliminary estimate.
The figure marks a fourth consecutive month of accelerating inflation on the island, rising from 3.5% in May to 4.1% in June, 4.4% in July and 5.2% in August.
The increase is particularly pronounced compared with the same month last year, when inflation stood at 0%, representing a rise of 5.2 percentage points over 12 months.
Prices also increased sharply on a monthly basis, with inflation estimated at 1.5% between July and August, adding further pressure on household budgets during the peak summer period.
Across the eurozone, annual inflation averaged 3.3% in August, up from 2.9% in July, leaving Cyprus 1.9 percentage points above the bloc's average.
The main driver of renewed price pressures across the eurozone remained the energy sector, where annual inflation accelerated to 14.3%, up from 10.3% in July.
Services inflation eased slightly to 3.0%, while food, alcohol and tobacco prices, as well as non-energy industrial goods, remained steady at 1.2%.
Source: Eurostat
