ECONOMY: Cyprus divide has huge gap in inflation rates

Inflation in the Republic of Cyprus stood at 1.4% in March while in the Turkish-held north of the island it fluctuated above 29%.

The Consumer Price Index increased by 0.83 units and reached 100.62 units compared to 99.79 units in February.

The annual CPI increased by 1.4% compared with March 2018.

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 12-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%.

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.

Turkish Cypriot daily Yeni Duzen reported that in March the cost of living in the occupied area of Cyprus went up by 1.33% compared to the previous month.

The inflation rate increased by 1.71% compared to December while the annual inflation rate reached 29.26%.

According to the figures, there were increases in 295 items and decreases in 108 items.

Goods to see the highest increases were fresh grapes up 58.31%, plums 48.02% and marrows by 43.07%.

Produce recording the highest decreases were broad beans down 40.83%, cucumbers 28.05% and green peas 27.55%.

Source: The Financial Mirror

ECONOMY: Cyprus divide has huge gap in inflation rates

Inflation in the Republic of Cyprus stood at 1.4% in March while in the Turkish-held north of the island it fluctuated above 29%.

The Consumer Price Index increased by 0.83 units and reached 100.62 units compared to 99.79 units in February.

The annual CPI increased by 1.4% compared with March 2018.

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 12-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%.

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.

Turkish Cypriot daily Yeni Duzen reported that in March the cost of living in the occupied area of Cyprus went up by 1.33% compared to the previous month.

The inflation rate increased by 1.71% compared to December while the annual inflation rate reached 29.26%.

According to the figures, there were increases in 295 items and decreases in 108 items.

Goods to see the highest increases were fresh grapes up 58.31%, plums 48.02% and marrows by 43.07%.

Produce recording the highest decreases were broad beans down 40.83%, cucumbers 28.05% and green peas 27.55%.

Source: The Financial Mirror