CYPRUS: Annual inflation in February reached 1.2%

In February, the Consumer Price Index (CPI) increased by 0.03 units to 99.79 units compared to 99.76 units in January 2019. Compared to a year ago, the CPI increased by 1.2% in Cyprus.

In the twelve-month period from March 2018 to February 2019, compared to the period from March 2017 to February 2018, the annual average rate of change of the CPI was 1.8%.

The corresponding annual average rate of change of the CPI in the previous 12-month period was 0.3%.

Comparing to the index of February 2018 and January 2019, the largest change in economic origin was recorded in Electricity, 20.4% and -8.5% respectively.

Compared to February 2018, the category Housing, Water, Electricity, Gas and Other Fuels recorded the largest positive change with a percentage of 6.9%, 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 Clothing and Footwear (5,9%).

For the period between January-February 2019, compared to the corresponding period of the previous year, the largest change was recorded in Housing, Water, Electricity, Gas and Other Fuels (8.4%).

Compared to February 2018, the categories with the largest positive effect on the change of the CPI were the following: Food and Non-Alcoholic Beverages (0.98) and Housing, Water, Electricity, Gas and other fuels (0.77). The category Transport (-0.73) had the largest negative effect.

The category with the largest positive effect on the change of the CPI compared to the previous month, was the Clothing and Footwear (0.38) while Housing, Water, Electricity, Gas and other fuels (-0.30) had the most negative effect.

The following products/services had the most notable positive effect on the change of the CPI of February 2019 compared to February 2018: fresh vegetables (0.69) and electricity (0.61), while petroleum products (-0.68) had the largest negative effect.

Finally, clothing (0.37) had the most positive effect on the change of the CPI of February 2019 compared to the previous month were the following, whereas electricity (-0.34) had the largest negative effect.

Source: The Financial Mirror