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Annual deflation at 1.9% in February

04/03/2021 15:48

Cyprus annual deflation increased to 1.9% in February 2021 compared to 1.61% in January 2021, according to data released Thursday by the Statistical Service of Cyprus.

In February 2021, the Consumer Price Index increased by 0.11 units and reached 99.32 units compared to 99.21 units in January 2021.

For the period January-February 2021, the CPI decreased by 1.7% compared to the corresponding period of the previous year.

As regards the economic origin, the largest changes when compared to the index of February 2020 were recorded in Electricity and Agricultural goods with percentages of -14.3% and -11.5% respectively. In comparison to the index of the previous month, the largest positive change was monitored in Petroleum products (3.0%) and the largest negative change was observed in Electricity   (-2.5%).

Compared to February 2020, the largest changes were monitored in the categories Housing, Water, Electricity, Gas and Other Fuels (-4.7%) and Food and non-Alcoholic Beverages (-4.4%).
 
In comparison to the CPI of the previous month, the largest change was noted in Transport (1%).
 
For the period January–February 2021, compared to the corresponding period of the previous year, the largest changes were recorded in Housing, Water, Electricity, Gas and Other Fuels (-4.6%) and Food and non-Alcoholic Beverages (-4.5%).
 
Compared to the Index of February 2020, the categories Food and non-Alcoholic Beverages (-0.88), Housing, water, electricity, gas and other fuels (-0.58) and Transport (-0,40) had the largest negative effect on the change of the CPI.
 
The category Transport (0.14) had the largest effect on the change of the CPI compared to the previous month.
 
Fresh vegetables (-0.92), petroleum products (-0.74) and electricity (-0.54) had the most notable negative effect on the change of the CPI of February 2021 compared to February 2020.
 
Finally, petroleum products (0.21) had the largest effect on the change of the CPI of February 2021 compared to the previous month.