Insider Economy Cyprus inflation speeds up in January

Cyprus inflation speeds up in January

Cyprus` consumer price index (CPI) rose 2.0 percent in January year-on-year after climbing 1.7% in the previous month, data from the Statistical Service of Cyprus showed Thursday.

“In January 2019 the Consumer Price Index decreased by 0,95 units and reached 99,76 units compared to 100,71 units in December 2018. Compared to January 2018, the CPI increased by 2.0%” Cystat reported.

“In the twelve-month period from February 2018 to January 2019, in comparison to the period from February 2017 to January 2018, the annual average rate of change of the CPI was 1.7%. The corresponding annual average rate of change of the CPI in the previous twelve-month period was  0.4%” it said.

According to the Statistical Service, electricity recorded the largest change increasing by 34.9%, compared to January last year, whereas agricultural goods presented the largest change with 10.4%, compared to December 2018.

Housing, water, electricity, gas and other fuels recorded the largest positive change with 10%. compared with January 2018. The largest negative change (16.9%) was in clothing and footwear.

Food and non-alcoholic beverages and housing, water, electricity, gas and other fuels had the largest positive effect on the change of the CPI in January 2019 compared with the same month last year, with 1,28 units and 1,11 units respectively.

Clothing and Footwear had the largest negative effect on the CPI with -1,29 units compared with the previous month, while Food and Non-Alcoholic Beverages had the highest positive effect with 0,89 units.

(Cyprus News Agency)

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