Cyprus inflation at 2% for January-August 2024
The Cyprus Statistical Service (CyStat) reported robust growth across key sectors of the economy in the first half of 2024, with manufacturing, construction, and tourism showing notable gains.
Manufacturing production rose by 3.7 per cent year-on-year in the January-July period.
Construction activity surged, with the total area of approved building permits reaching 1,627.5 thousand square meters from January to June, up 46.5 per cent compared to the same period in 2023.
Vehicle registrations also saw a sharp rise, with total registrations up 15.9 per cent to 34,391 units in January-August.
Within this, private saloon cars increased by 22.5 per cent, while light trucks jumped 41.5 per cent.
The Consumer Price Index (CPI) posted a 2.0 per cent increase over the January-August period. Imports declined by 15.5 per cent to €7.58 billion, while exports dropped by 9.0 per cent to €2.59 billion.
Tourism continued its recovery, with arrivals reaching 2.76 million from January to August, a 4.1 per cent increase compared to the previous year.