The TRNC Institute of Statistics has calculated the inflation rate for the year 2023

In 2023, inflation in Northern Cyprus reached 83.63%. According to the TRNC Institute of Statistics, the price increase in December in the country was announced at the level of 5.44%.

• There has been a change of 5.44% in the General Consumer Price Index compared to the previous month and 83.63% compared to the same month of the previous year - the study states.

The highest increase compared to the previous month was recorded in the main groups: "restaurants and hotels" - 15.10%, "healthcare" - 14.82%, "housing, water, electricity, gas, and other fuels" - 10.18%, and "communication" - 7.45%. Food and non-alcoholic beverages rose by 5.94%, while clothing and footwear increased by 4.35%.

The smallest growth was recorded in the categories of "transport" - 1.03% and "alcoholic beverages and tobacco products" - 0.12%.

During the month, prices for 557 items increased in the country, while only 33 decreased.

The most significant price increases were for zucchinis - 260.58%, cucumbers - 137.98%, and eggplants - 106.56%. Significantly cheaper were colored and white cabbage - by 65.35% and 34.14%, respectively, as well as lemons by 23.15%.