Cyprus inflation hits 3-year low, yet staples remain costly

Inflation in Cyprus dropped to a three-year low of 0.6 per cent in October, mainly due to falling petroleum prices, according to a report from the Cyprus Statistical Service (Cystat).

Still, while sugar prices dropped by 29.26 per cent, other essentials surged, with potatoes seeing a 63.78 per cent rise, keeping household budgets tight.

In particular, petroleum products were the largest contributors to the reduced inflation rate, showing annual drops of 15.79 per cent across the sector.