Insider Economy Inflation at 1.4% in March

Inflation at 1.4% in March

Inflation in Cyprus stood at 1.4% in the third month of the year, the Statistical Service said on Thursday.

According to Cystat, the Consumer Price Index increased by 0.83 units and reached 100,62 units compared to 99,79 units in February 2019.

The CPI increased by 1.4% compared with March 2018, Cystat added.

Between April 2018 and March 2019, the annual average rate of change of the CPI was 1.9% compared with the period from April 2017 to March 2018. The corresponding annual average rate of change of the CPI in the previous twelve-month period was 0.1%.

The largest change in economic origin was recorded in electricity with 17.9% compared with March 2018, while petroleum products registered the largest change with 3.9%, compared with the previous month.

Housing, water, electricity, gas and other fuels recorded the largest positive change with 7.1% compared with March 2018, while communication had the largest negative change with -6.0%.

Clothing and Footwear saw a decrease of 8.2%, the largest change compared with the CPI in February.

Housing, water, electricity, gas and other fuels recorded the largest change with 8.0%, between January-March 2019, compared with the same period of the previous year.

The categories with the largest positive effect on the change of the CPI compared with March 2018, were the following: housing, water, electricity, gas and other fuels (0.80) and food and non-alcoholic beverages (0.67). Transport registered the largest negative effect with -0.39.

Clothing and footwear had the largest positive effect on the change of the CPI with 0.55 compared with the previous month.

Electricity and fresh vegetables had the most notable positive effect on the change of the CPI in March 2019 compared with March 2018, with 0,54 and 0,53 respectively.

Petroleum products had the largest negative effect with -0.34.

Finally, clothing and petroleum products had the most positive effect on the change of the CPI in March 2019 compared with the previous month, with 0.32 and 0.30 respectively.

(Cyprus News Agency)

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