Cyprus Clocks in Third-Highest Euro Area Inflation Rate This August

Cyprus has recorded its third-highest annual inflation rate in the euro area in August, according to Eurostat. The island nation's consumer price growth rose to 5.2 per cent from 4.4 per cent in July.

The monthly inflation rate also reached a high of 1.5 per cent between July and August, surpassing the previous month's increase.

Annual inflation in Cyprus was at 0.0 per cent just a year ago but has been rising steadily since March, when it hit 1.5 per cent.