The annual inflation rate in Cyprus stood at 9.6 percent in June, the highest level in over 40 years, the Statistical Service (Cystat) of the Ministry of Finance said.
Last month, the retail price index was the highest since December 1981, when the inflation rate was 10.3 percent, reports Xinhua news agency.
Economic analysts said that in real terms, the June inflation rate could be translated as a loss of 96 euros ($97) from the purchasing power of a 1,000-euro salary.
This loss was the direct result of the ongoing war in Ukraine, which has sent the prices of energy and some foodstuffs spiraling sky-high, the analysts said.
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According to Crystal, inflation is mostly fuelled by a steady increase in the cost of petrol at the pump, which rose by 46.1 percent on an annual basis; of electricity, which went up by 40.4 percent; and of agricultural products, which increased by 7.3 percent.
The annual inflation rate for the January-June period was 7.6 percent, Cystat said.
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