Inflation for the period January-December 2022 recorded an increase of 8.4%, compared to the corresponding period of the previous year, according to data published by the Statistical Service of Cyprus on Thursday. For December, inflation fell to 7.9%.
For the period January-December 2022, the the largest changes in the Consumer Price Index, compared to the same period of 2021, were recorded in Housing, Water, Electricity, Gas and Other Fuels, by 21% and in Transport, by 16.3%.
In December 2022, the inflation fell to 7.9%. As regards the economic origin, the largest changes when compared to the index of December 2021 were recorded in Electricity, which increased by 32.7% and in Petroleum Products, by 12.9%.
Compared to December 2021, the largest changes were monitored in the categories Housing, Water, Electricity, Gas and Other Fuels, increased by 17.1% and Food and Non-Alcoholic Beverages, increased by 12.6%. The categories Food and Non-Alcoholic Beverages, Housing, Water, Electricity, Gas and Other Fuels and Transport had the largest effect on the change of the CPI, with 2.41, 2.32 and 1.51 units respectively.
Electricity and Petroleum Products had the most notable effect on the change of the CPI of December 2022 compared to December 2021, with 1.41 and 1.20 units respectively.
The CPI decreased by 1.12 units and reached 113.43 units compared to 114.55 units in November 2022. In comparison to the index of the previous month, the largest change was monitored in Agricultural goods, which decreased by 7.1%. The largest changes were noted in Food and Non-Alcoholic Beverages, which decreased by 2.9% and Transport, decreased by 2.3%).
The categories Food and Non-Alcoholic Beverages and Transport had the largest negative effect on the change of the CPI compared to the previous month, with 0.65 and 0.42 units respectively.
Finally, the largest negative effect was noted by Petroleum Products, with 0.57 units and fresh vegetables, by 0.56 units.