Inflation increased in July by 4%

Inflation increased in July by 4%, the Statistical Service of Cyprus says.

According to a press release, in July 2021, the Consumer Price Index increased by 0,11 units and reached 102,50 units compared to 102,39 units in June 2021. In July 2021, the inflation increased by 4,0%.

For the period January-July 2021, the CPI increased by 1,0% compared to the corresponding period of the previous year.

As regards the economic origin, the largest changes when compared to the index of July 2020 were recorded in Electricity (33,9%) and Petroleum products (19,9%). In comparison to the index of the previous month, the largest change was monitored in Agricultural goods (4,9%).

Compared to July 2020, the largest changes were monitored in the categories Housing, Water, Electricity, Gas and Other Fuels (12,7%) and Transport (10,1%).

In comparison to the CPI of the previous month, the largest change was noted in Clothing and Footwear (-12,4%).

For the period January–July 2021, compared to the corresponding period of the previous year, the largest positive change was recorded in Transport (5,4%), whereas the largest negative change was noted in Communication (-2,3%).

According to the Statistical Service, compared to the Index of July 2020, the categories Transport (1,45) and Housing, Water, Electricity,Gas and Other Fuels (1,44) had the largest effect on the change of the CPI.

The category Clothing and Footwear (-0,93) had the largest effect on the change of the CPI compared to the previous month.

Petroleum products (1,45) and electricity (0,98) had the most notable effect on the change of the CPI of July 2021 compared to July 2020.

Finally, fresh fruits (0,32) and petroleum products (0,32) had the largest positive effect on the change of the CPI of July 2021 compared to the previous month, whereas clothing (-0,62) and footwear (-0,31) had the largest negative effect.