Yesterday 03/10/2024 the Consumer Price Index (CPI figures), for September 2024 were announced alongside current Inflation figures.
Consumer price index (CPI) increased by 49.38% annually and 2.97% monthly
A change in general index was realized in CPI (2003=100) on the previous month by 2.97%, on December of the previous year by 35.86%, on same month of the previous year by 49.38% and on the twelve months moving averages basis by 63.47% in September 2024.
We now know that the maximum rent increase % rate for both residential and commercial properties in the month of October is 63.47%.
Tenants of residential properties, who are experiencing higher rent increases than the maximum rate set by the state, are advised to contact The Foreign Citizen Advice Centre for advice and support.
