The North Cyprus Statistical Institute announced the inflation rates. The yearly inflation rate has been recorded as 116,56 per cent. According to the Consumer Price general Index inflation rates have increased by 5,21% in comparison with the previous month, 64,93% in comparison with last year’s December and 116,56% in contrast to the same month last year.
As for the main spending group the highest increase has been recorded for restaurants and hotels by 17,45%, 14,71% on health, 12,56% on housing, water, electricity, gas and other fuel supplies, 9,92% on entertainment and cultural activities, 6,12% on communication, 3,21% on furniture, household appliances, and home care services, 2,75% on food and alcohol-free beverages, 2,17% on miscellaneous goods and services, 1,09% on clothing and foot ware, 0,41% on alcoholic drinks and tobacco, 0,33% on education and a decrease of 1,43% on transportation in contrast to the previous month.
While the average price of 534 items under the index increased compared to the previous month, a fall was observed in the average price of 65 items. The highest price hike recorded on the first three goods are; 152,77% on ferry boat costs, 119,64% on red cabbage, and 114.76 % on lemon. The first three goods that declined in prices are eggplant with 46.21%, melon with 39.15% and okra with 37.56%.