Cyprus records inflation of 1.7% in December

Cyprus recorded inflation of 1.7% in December 2018, data released by the Cyprus Statistical Service, on Friday, show.

In December 2018, the Consumer Price Index fell by 1.38 units and reached 100.71 units compared to 102.09 units in November 2018. Compared to December 2017, the CPI increased by 1.7% while for the period January – December 2018, the CPI was up by 1.4% compared to the corresponding period of the previous year, a press release on the Statistical Service website shows.

Compared to the index of December 2017 the greatest change occured in Electricity with an increase of 39.8%, while compared to the index of the previous month, the greatest change was noted in Petroleum products with a change of -8.8%.

Compared to December 2017, the category Housing, Water, Electricity, Gas and Other Fuels recorded the largest positive change with a percentage of 12%.

Compared to the CPI of November 2018, the greatest negative change was noted in Transport (-4.3%).

For the period January-December 2018, compared to the corresponding period of the previous year, the largest positive changes were noted in Housing, Water, Electricity, Gas and Other Fuels (5.3%) and in Transport (4.4%), the press release adds.

The categories with the largest negative effect on the change of the CPI of December 2018 compared to the previous month, was Transport (-0.67) and Food and non-alcoholic beverages (-0,63).

The petroleum products (-0.79) and the fresh vegetables (-0.30) had the most notable negative effect on the change of the CPI of December 2018 compared to the previous month while electricity (0.11) had the largest positive effect.

Source: Cyprus News Agency