Cyprus recorded the highest inflation rate in the euro area after Romania and Lithuania in August, as annual consumer price growth accelerated to 5.2 per cent from 4.4 per cent in July, according to Eurostat. The latest figure marked another sharp increase for Cyprus , where inflation had stood at just 0.0 per cent a year earlier. Cyprus’ annual inflation rate has risen steadily in recent months, reaching 1.5 per cent in March, 3.0 per cent in April, 3.5 per cent in May, 4.1 per cent in June and 4.4 per cent in July before reaching 5.2 per cent in August. Prices in Cyprus also recorded a 1.5 per cent increase between July and August, the strongest monthly rise among the figures provided in the Eurostat data.
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