Cyprus records inflation of 0.3% in 2019

Cyprus recorded inflation of 0.3% in 2019, data released by the Cyprus Statistical Service, on Friday, show.

In December 2019, the Consumer Price Index decreased by 0.17 units and reached 101.43 units compared to101.60 units in November 2019.

Compared to December 2018, the CPI increased by 0.7%.

For the period January - December 2019, the CPI increased by 0.3% compared to the corresponding period of the previous year.

With regard to the economic origin, the largest positive change when compared to December 2018 was recorded in Agricultural Products with a percentage of 4.2%, while a negative change of 4.5% was observed in Electricity.

In comparison to the previous month, Electricity recorded the highest change at -1.5%.

Compared to December 2018, the categories Communication and Food and Non-Alcoholic Beverages recorded the largest changes with percentages of 2.6% and 1.8% respectively.

In comparison to the CPI of the previous month, the largest change was noted in Housing, Water, Electricity, Gas and Other Fuels (-0.5%).

For the period between January–December 2019, compared to the corresponding period of the previous year, the largest changes were recorded in Housing, Water, Electricity, Gas and Other Fuels(3.6%) and Transport (-3%).

Compared to the Index of December 2018, the category Food and Non-Alcoholic Beverages (0.34) had the largest effect on the change of the CPI.

The category Housing, Water, Electricity, Gas and Other Fuels (-0.06) had the largest effect on the change of the CPI compared to the previous month.

Fresh vegetables (0.27) had the most notable effect on the change of the CPI of December 2019 compared to December 2018.

Finally, electricity had the largest effect of -0.06units on the change of the CPI of December 2019 compared to the previous month.