Cyprus’ harmonised inflation slows down to 3.9% in April

Cyprus’ annual EU-harmonised inflation slowed to 3.9% in April from 6.1% in March, official data showed on Wednesday.

According to the Statistical Service of Cyprus the Harmonized Price Index (HICP) rose by 3.9% between April 2022 and April 2023, and by 0.9% between March 2023 and April 2023.

For the period January - April 2023 the HICP rose by 5.9% compared to the corresponding period of the previous year.

In April 2022 the HICP had increased by 8.6%.

Compared to April 2022, the largest changes were noted in Food and Non-Alcoholic Beverages (6.9%), Furnishings, Household Equipment and Routine Maintenance of the House (6.7%) and Restaurants and Hotels (6.5%).

Compared to March 2023, the largest change was recorded in category Clothing and Footwear (4.2%).

For the period January - April 2023, compared to the corresponding period of the previous year, the largest changes were noted in Housing, Water, Electricity, Gas and Other Fuels (14.0%), Food and Non-Alcoholic Beverages (8.5%) and Restaurants and Hotels (8.2%).

As regards the economic origin, the largest changes when compared to the index of April 2022 were recorded in Food and Non-Alcoholic Beverages (5.8%) and Non energy industrial goods (5.7%). When compared to the index of the previous month, the largest change was monitored in category Energy (-2.9%).