Insider Economy Harmonized inflation in Cyprus rises to 2.1% for January 2019

Harmonized inflation in Cyprus rises to 2.1% for January 2019

In January 2019 the Harmonized Index of Consumer Prices in Cyprus increased by 2.1% compared to January 2018, while compared to December 2018 the HICP decreased by 0.8%. according to data released Friday by the Statistical Service of Cyprus and Eurostat. A year earlier it was negative at -1.5%.

Compared to January 2018, the largest change was noted in category HousingWaterElectricityGas and Other Fuels with a change of 11.5%.

Compared to December 2018, the largest change was recorded in category Clothing and Footwear   (-17.3%).

As regards the economic origin, the largest change when comparing to the index of January 2018 was observed in category FoodAlcoholic Beveragesand Tobacco with a change of 4.3%.  In comparison to the index of the previous month, the biggest changes were noticed in Energy and Non EnergyIndustrial Goodswith changes of -4.8% and -4.7% respectively.

The euro area annual inflation rate was 1.4% in January 2019, down from 1.5% in December. A year earlier, the rate was 1.3%. European Union annual inflation was 1.5% in January 2019, down from 1.6% in December. A year earlier, the rate was 1.6%. Inflation in Greece decreased to 0.5% in January 2019, from 0.6% in December 2018, while a year ago it was 0.2%.

The lowest annual rates were registered in Greece (0.5%), Croatia and Portugal (both 0.6%). The highest annual rates were recorded in Romania (3.2%), Latvia (2.9%), Estonia and Hungary (both 2.8%). Compared with December 2018, annual inflation fell in sixteen Member States, remained stable in five and rose in seven.

In January 2019, the highest contribution to the annual euro area inflation rate came from services (+0.70 percentage points, pp), followed by food, alcohol & tobacco (+0.36 pp), energy (+0.26 pp) and non-energy industrial goods (+0.06 pp).

(Cyprus News Agency)

Top Stories

Tala fire under control

  A massive blaze between the Tala, Koili and Kissonerga communities was placed under control late this afternoon, after more than two hours. It destroyed trees,...

The first 007 dies at 90-So long Sean Connery

  Scottish movie legend Sean Connery, who shot to international stardom as the suave, sexy and sophisticated British agent James Bond and went on to...

Greece extended lockdown from Tuesday as numbers surge

  Greece will expand a night-time curfew on movement and shut restaurants and bars in the most populous areas of the country for one month...

Turkish mother, three children rescued after 18 hours under quake rubble

   A Turkish mother and three of her children were pulled from under the rubble of a collapsed building where they had been trapped for...

Turkish rescue workers search for quake survivors; death toll rises to 27

  Turkish rescue workers searched through rubble for survivors on Saturday, as the death toll from a powerful earthquake that hit the Aegean Sea the...


Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...


No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...