Heat the oil in a deep-fryer or electric skillet to 375 degrees F (190 degrees C).
In a batter bowl or large (4c - 8c) measuring cup, whisk together the flour, sugar, baking powder, salt and spices.
In a large bowl or kitchen mixer, combine the egg, cream, and yogurt.
Pour the dry ingredients into the bowl of wet ingredient and blend together until they form a sticky dough. Fold in peaches until they are evenly distributed and mostly wrapped into the batter.
Drop spoonfuls of the batter into the hot oil and fry until golden brown on both sides, about 5 minutes depending on the size. Fry in smaller batches so they are not crowded. Remove from the hot oil using a slotted spoon or tongs and drain briefly on paper towels.
If the sweetener in the yogurt and dough was not enough for your taste, dip top of warm fritter in a small bowl of cinnamon sugar or powdered sugar.