Insider Economy Inflation increases to 1.2% in April

Inflation increases to 1.2% in April

Inflation in Cyprus increased by 1.2% in April 2019 compared with the respective period of 2018, according to data released Friday by the Statistical Service of Cyprus. This is the eleventh month of inflation growth in Cyprus.

In April 2019, the Consumer Price Index increased by 0.42 units and reached 101.04 units compared to 100.62 units in March 2019. Compared to April 2018, the CPI increased by 1.2%.

In the twelve-month period from May 2018 to April 2019, in comparison to the period from May 2017 to April 2018, the annual average rate of change of the CPI was 2.1%. The corresponding annual average rate of change of the CPI in the previous twelve month period was -0.1%.

Comparing to the index of April 2018 the largest change in economic origin was recorded in Electricity (13.6%), while compared to the index of the previous month, Petroleum Products had the largest change (3.1%).

Analysis of changes
————————–

Compared to April 2018, the category Housing, Water, Electricity, Gas and Other Fuels recorded the largest positive change with a percentage of 5.7%, while the category Communication (-6%) had the largest negative change.

In comparison to the CPI of the previous month, the largest change was noted in Transport (2.6%).

For the period between January – April 2019, compared to the corresponding period of the previous year, the largest change was recorded in Housing, Water, Electricity, Gas and Other Fuels (7.4%).

Analysis of effects
————————————
Compared to April 2018, the categories with the largest positive effect on the change of the CPI were the following: Housing, Water, Electricity, Gas and other Fuels (0.65) and Food and Non-Alcoholic Beverages (0.55). The category Communication (-0.25) had the largest negative effect.

The category with the largest positive effect on the change of the CPI compared to the previous month, was Transport (0.38).

The following products/services had the most notable positive effect on the change of the CPI of April 2019 compared to April 2018: electricity (0.42) and fresh vegetables (0.36), while mobile telephony   had the largest negative effect(-0.21).

Finally, petroleum products (0.26) and airfares (0.14) had the most positive effect on the change of the CPI of April 2019 compared to the previous month.

(Cyprus News Agency)

Top Stories

Pandemic at highly critical phase in Cyprus, new appeal launched-12 cases today

  Twelve new cases of covid-19 were announced today out of three thousand 147 tests, taking confirmed infections to 1,755. The break down of new patients...

Animal abuse legislation to get tougher, with a 10 thousand fine for a first offence

  MPs are working through a tougher bill against animal abusers, including raising fines as a deterrent, just a couple of weeks following a horrendous...

No spectators at tomorrow’s Independence Day Parade

  Tomorrow's Independence Day military parade will be held without spectators due to Covid pandemic restrictions, with just officials and foreign dignitaries attending. The parade, on...

Spain in solidarity with Cyprus over Turkish violations

  Spain expressed its solidarity with Cyprus in the Eastern Mediterranean, with foreign minister Arantha Gonzales Layia noting her country's opposition to any unilateral action,...

Services not covered by GeSY and offered under it to incur fines

The Health Insurance Organisation (HIO) reminds all health care providers as well as General Healthcare System (GeSY) beneficiaries that the system does not cover...

Taste

Sheftalies

Sheftalies, a very tasty dish from the charcoal grill, are minced meat shaped into small sausages and wrapped in “panna” (suet). Panna is a...

Spicy grilled soutzoukakia

Place all ingredients for soutzoukakia in a bowl and mix well, preferably using a food processor, until well combined. Using the mixture, form cigar-shaped...

Souvlakia

Pork souvlaki: Put the meat and all the other ingredients in a bowl (not metal) and mix well. Cover the bowl and keep in...

Pastelli (Carob Toffee)

The nutritional sweet of Pastelli is made with the syrup of carob pods, produced by boiling their pulp until it forms a thick, sticky...