Inflation 8.8%
[/P]The Consumer Price Index in April 2022 increased by 2.58 points to 110.36 points compared to 107.78 points in March 2022. Inflation in April 2022 increased at a rate of 8.8%. (Table 1)
For the period January - April 2022, the CPI increased by 7.0% compared to the same period last year. (Table 1)
The largest changes in economic categories compared to April 2021 were recorded in Electricity at 39.0%, Petroleum Products at 32.0% and Agricultural Products at 18.3%. Compared to the previous month, the largest change was in Electricity at 16.4%. (Table 2)
Percentage change analysis
Compared to April 2021, the largest changes were observed in Housing, Water, Electricity & LPG(21.1%), Transport(18.0%) and Food & Non-alcoholic Beverages (11.0%). (Table 1)
Compared to March 2022, the largest change was in Housing, Water, Electricity & LPG (7.0%). (Table 1)
For January to April 2022 compared to the same period last year, the largest changes occurred in the categories Housing, Water, Electricity and Gas (16.3%), Transport (15.1%) and Food and Non-Alcoholic Beverages (8.0%). (Table 1)
Impact analysis in units
The largest impact on the change in the April 2022 CPI compared to April 2021 was in Transport (2,71), Housing, Water, Electricity and LPG (2.58) and Food and Non-Alcoholic Beverages (2.09). (Table 3)
The largest impact on the change in the CPI compared to the previous month was for Housing, Water, Electricity and LPG (0.97) and Transport (0.78). (Table 3)
The largest impact on the change in the April 2022 CPI compared to the April 2021 index was for Petroleum (2.54), Electricity (1.40) and Fresh Vegetables (0.70). (Table 4)
Finally, Electricity (0.70) and Oil products (0.61) had the largest positive impact on the change in the April 2022 CPI compared to the previous month's index. (Table 5)
|
Table 1 |
[TR] [TD]
Categories of Goods and Services
[/TD] [TD]CPI (2015=100)
[/TD] [TD]Changes (%)
[/TD] [/TD] [/TR] [TR] [TD]
March 2022
[/TD] [TD]April 2022
[/TD] [TD]Apr 22/ Apr 21
[/TD] [TD]Apr 22/ Mar 22
[/TD] [TD]Jan- Apr 22/ Jan- Apr 21
[/TD] [/TD] [/TR] [TR] [TD]Food and non-alcoholic beverages
[/TD] [TD]109,26
[/TD] [TD]110.55
[/TD] [TD]11.01
[/TD] [TD]1.18
[/TD] [TD]7,99
[/TD] [/TR] [TR] [TD]Alcoholic Beverages and Tobacco
[/TD] [TD]98.25
[/TD] [TD]98.96
[/TD] [TD]1.39
[/TD] [TD]0.72
[/TD] [TD]0,90
[/TD] [/TR] [TR] [TD]Clothing and footwear
[/TD] [TD]102.56
[/TD] [TD]105,52
[/TD] [TD]1,71
[/TD] [TD]2,89
[/TD] [TD]3,14
[/TD] [/TD] [/TR] [TR] [TD]Housing, Water, Electricity and LPG
[/TD] [/TD] [TD]124.13
[/TD] [TD]132.78
[/TD] [TD]21.06
[/TD] [TD]6.97
[/TD] [TD]16.30
[/TD] [/TR] [TR] [TD]Furnishings, Household Equipment and Cleaning Supplies
[/TD] [/TD] [TD]98,31
[/TD] [TD]99,08
[/TD] [TD]4,23
[/TD] [TD]0,78
[/TD] [TD]2,78
[/TD] [/TR] [TR] [TD]Health
[/TD] [TD]103.38
[/TD] [TD]103.31
[/TD] [TD]0,63
[/TD] [TD]-0.07
[/TD] [TD]0.84
[/TD] [/TD] [/TR] [TR] [TD]Transport
[/TD] [TD]111,62
[/TD] [TD]116.75
[/TD] [TD]17.99
[/TD] [TD]4.60
[/TD] [TD]15,07
[/TD] [/TR] [TR] [TD]Communications
[/TD] [TD]93.76
[/TD] [TD]93.68
[/TD] [TD]2,40
[/TD] [TD]-0.09
[/TD] [TD]2.42
[/TD] [/TD] [/TR] [TR] [TD]Leisure and Culture
[/TD] [TD]104,74
[/TD] [TD]104,99
[/TD] [TD]2,68
[/TD] [TD]0,24
[/TD] [TD]2,42
[/TD] [/TR] [TR] [TD]Education
[/TD] [TD]107.36
[/TD] [TD]107.36
[/TD] [TD]0.56
[/TD] [TD]0,00
[/TD] [TD]0,56
[/TD] [/TR] [TR] [TD]Restaurants and Hotels
[/TD] [TD]109,92
[/TD] [TD]112.63
[/TD] [TD]7.21
[/TD] [TD]2.47
[/TD] [TD]4.91
[/TD] [/TR] [TR] [TD]Other Goods and Services
[/TD] [TD]102,29
[/TD] [TD]103.04
[/TD] [TD]1.77
[/TD] [TD]0.73
[/TD] [TD]1.67
[/TD] [/TR] [TR] [TD]
General Consumer Price Index
[/TD] [TD]107,78
[/TD] [TD]
110.36
[/TD] [TD]8.80
[/TD] [TD]2.39
[/TD] [TD]6,99
[/TD] [/TR]
|
Table 2 |
[/TD] [/TR] [TR] [TD] [TD]
Economic Categories
[/TD] [TD]Weighting Coefficients
[/TD] [/TD] [TD]
Mchanges (%)
[/TD] [/TD] [/TR] [TR] [TD]
Apr 22/ Apr 21
[/TD] [TD]
Apr 22/ Mar 22
[/TD] [/TR] [TR] [TD]Agricultural Products
[/TD] [TD]655
[/TD] [TD]18,26
[/TD] [TD]0,66
[/TD] [/TR] [TR] [TD]Industrial Products (except Petroleum Products)
[/TD] [TD]4195
[/TD] [TD]4,39
[/TD] [TD]1,37
[/TD] [/TR] [TR] [TD]Electricity
[/TD] [TD]319
[/TD] [TD]39.02
[/TD] [TD]16,42
[/TD] [/TR] [TR] [TD]Petroleum products
[/TD] [TD]550
[/TD] [TD]31,98
[/TD] [TD]5,77
[/TD] [/TR] [TR] [TD]Water
[/TD] [TD]57
[/TD] [TD]0,00
[/TD] [TD]0,00
[/TD] [/TR] [TR] [TD]Services
[/TD] [TD]4224
[/TD] [TD]4,05
[/TD] [TD]1,52
[/TD] [/TR] [TR] [TD]
General Index
[/TD] [TD]10000
[/TD] [TD]8,80
[/TD] [/TD] [TD]2,39
[/TD] [/TR]
| Table 3 | ||
| Categories of Goods and Services | Weighting Coefficients | Impact (units) |
[TR] [TD]
Apr 22/ Apr 21
[/TD] [TD]Apr Mar 22/ Mar 22
[/TD] [/TR] [TR] [TD]Food and Non-Alcoholic Beverages
[/TD] [TD]1906
[/TD] [TD]2,09
[/TD] [TD]0.25
[/TD] [/TR] [TR] [TD]Alcoholic Beverages and Tobacco
[/TD] [TD]347
[/TD] [TD]0.05
[/TD] [TD]0,02
[/TD] [/TR] [TR] [TD]Clothing and footwear
[/TD] [TD]721
[/TD] [TD]0,13
[/TD] [TD]0,21
[/TD] [/TR] [TR] [TD]Housing, Water, Electricity and LPG
[/TD] [/TD] [TD]1119
[/TD] [TD]2,58
[/TD] [TD]0,97
[/TD] [/TR] [TR] [TD]Furnishings, Household Equipment and Cleaning Supplies
[/TD] [/TD] [TD]644
[/TD] [TD]0,26
[/TD] [TD]0,05
[/TD] [/TR] [TR] [TD]Health
[/TD] [TD]637
[/TD] [TD]0,04
[/TD] [TD]0,00
[/TD] [/TR] [TR] [TD]Transport
[/TD] [TD]1524
[/TD] [TD]2,71
[/TD] [TD]0.78
[/TD] [/TR] [TR] [TD]Communications
[/TD] [TD]439
[/TD] [TD]0,10
[/TD] [TD]0,00
[/TD] [/TR] [TR] [TD]Leisure and Culture
[/TD] [TD]575
[/TD] [TD]0,16
[/TD] [TD]0,01
[/TD] [/TR] [TR] [TD]Education
[/TD] [TD]392
[/TD] [TD]0.02
[/TD] [TD]0,00
[/TD] [/TR] [TR] [TD]Restaurants and Hotels
[/TD] [TD]836
[/TD] [TD]0,63
[/TD] [TD]0.23
[/TD] [/TR] [TR] [TD]Other Goods and Services
[/TD] [TD]860
[/TD] [TD]0.15
[/TD] [TD]0,06
[/TD] [/TR] [TR] [TD]
General Consumer Price Index
[/TD] [TD]10000
[/TD] [TD]8,93
[/TD] [TD]2,58
[/TD] [/TR]
Note: Totals are calculated based on individual impacts to infinite decimal places and are published rounded to two decimal places. Possible differences in totals are due to rounding error.
| Table 4 |
[/TD]
[TR] [TD]
Products/Services
[/TD] [TD]Impact (units)
[/TD] [/TD] [TD]Impact (units)
[/TD] [/TR] [TR] [TD]Apr 22/ Apr 21
[/TD] [/TD] [/TR] [TR] [TD]Positive impact
[/TD] [TD] [/TD] [/TR] [TR] [TD]Petroleum products
[/TD] [TD]2,54
[/TD] [/TR] [TR] [TD]Electricity
[/TD] [TD]1,40
[/TD] [/TR] [TR] [TD]Fresh vegetables
[/TD] [TD]0,70
[/TD] [/TR] [TR] [TD]Catering services
[/TD] [TD]0,61
[/TD] [/TR] [TR] [TD]Services for regular maintenance of dwelling
[/TD] [TD]0,43
[/TD] [/TR] [TR] [TD]Fresh meat
[/TD] [TD]0,34
[/TD] [/TR] [TR] [TD]Purchase of cars
[/TD] [TD]0,30
[/TD] [/TR] [TR] [TD]Airline fares
[/TD] [TD]0,20
[/TD] [/TR] [TR] [TD]LPG
[/TD] [TD]0,17
[/TD] [/TR] [TR] [TD]Potatoes
[/TD] [TD]0,17
[/TD] [/TR] [TR] [TD]Miscellaneous other products and services
[/TD] [TD]2,07
[/TD] [/TR] [TR] [TD]TOTAL
[/TD] [/TD] [TD]8,93
[/TD] [/TR] Table 5 [TR] [TD] Products/Services Impact (units) Apr 22/ Mar 22 Positive impact Electricity 0,70 Petroleum products 0,61 Airline freight 0,24 Fresh meat 0,22 Catering services 0,20 Services for regular house maintenance 0,15 Miscellaneous other products and services 0,65 Negative impact Fresh vegetables -0,19 TOTAL 2,58
METHODOLOGICAL INFORMATION
Definitions
The Consumer Price Index (CPI) is an economic indicator compiled to measure changes over time in the prices of consumer goods and services purchased, used or paid for by households (residing in Cyprus or intending to reside in Cyprus for at least one year). The CPI is the official indicator for the calculation of inflation.
The Inflation shows the change in the CPI compared to the corresponding month of the previous year.
The Impact represents the amount of the total change in CPI attributable to the reported category/good/service.
Pricing is carried out only in the urban areas of the districts of Nicosia, Larnaca, Limassol and Paphos. For each city, price fluctuations by product each month are weighted according to population. Specifically, the weights for the four provinces: Nicosia 42%, Limassol 30%, Larnaca 18% and Paphos 10%.
The prices of the 805 items and services included in the CPI are monitored and recorded once a month, except for some seasonal products (e.g.
Base year
The base year from January 2006 to December 2015 was 2005=100. From January 2016, the base year is 2015=100.
Classification
Until December 2015, the CPI was calculated and published according to the COICOP4 classification whereby the product category is defined up to four digits. Since January 2016, the CPI is calculated and published on the basis of the ECOICOP classification following a regulation of the European Statistical Office. Therefore, the lowest level of detail for the classification used is five digits.
Products/Services and Weighting Coefficients
With effect from January 2018, both the products included in the CPI and their weighting coefficients have been revised. The revision was based on the results of the 2015/2016 Family Budget Survey. Further information is available in the Consumer Price Index methodology, which is posted on the Statistics Office website under the statistical topic "Economy/Consumer Price Index", in the Methodology section.
For more information:
Statistics Office Portal, subtopic Price Indices CYSTAT-DB (Database) Predefined Tables (Excel)
The Predefined Tables in Excel format are updated with data up to December 2021. For January 2022 and newer data, only the CYSTAT-DB Database is updated.
Contact
Constantia Papageorgiou: Tel. cpapageorgiou@cystat.mof.gov.cy
(MB/EXP)
Contents of this article including associated images are belongs PIO
Views & opinions expressed are those of the author and/or PIO
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