Insider Economy Inflation up 0.7% in March

Inflation up 0.7% in March

Cyprus inflation rose 0.7% in March as the Statistical Service of Cyprus reported on Wednesday.

In March 2020, the Consumer Price Index increased by 0.11 units and reached 101.34 units compared to 101.23 units in February 2020. Compared to March 2019, the CPI increased by 0.7%.

For the period January-March 2020, the CPI increased by 1.1% compared to the corresponding period of the previous year.

As regards the economic origin, the largest change when compared to the index of March 2019 was recorded in Electricity (9.2%), while comparing to the index of the previous month the largest change was monitored in Agricultural Goods (-5.8%).

Analysis of percentage changes
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Compared to March 2019, the categories Communication and Housing, Water, Electricity, Gas and Other Fuels recorded the largest changes with percentages of 4.1% and 3.7% respectively.

In comparison to the CPI of the previous month, the largest change was noted in Clothing and Footwear (11%).

For the period January–March 2020, compared to the corresponding period of the previous year, the largest changes were recorded in Communication (3.8%), Housing, Water, Electricity, Gas and Other Fuels (2.8%) and Transport (2.5%).

Analysis of effects in units
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Compared to the Index of March 2019, the category Housing, Water, Electricity, Gas and Other Fuels  had the largest effect on the change of the CPI (0.45).

The category Clothing and Footwear had the largest positive effect on the change of the CPI compared to the previous month (0.71).

Electricity had the most notable effect on the change of the CPI of March 2020 compared to March 2019 (0.33).

Finally, clothing had the largest positive effect of 0.49 units on the change of the CPI of March 2020 compared to the previous month, whereas fresh vegetables and petroleum products had the largest negative effect of 0.59 and 0.36 units respectively.

(CNA)

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