Inflation 3.7%
The Consumer Price Index in April 2023 increased by 0.36 points to 114.39 points compared to 114.03 points in March 2023. Inflation in April 2023 increased at a rate of 3.7%. (Table 1)
For the period January to April 2023, the CPI increased 5.8% compared to the same period last year. (Table 1)
The largest positive changes in economic categories compared to April 2022 were recorded in Electricity with a rate of 8.8% and in Industrial Products with a rate of 7.2%, while the largest negative change was recorded in Petroleum Products with a rate of -7.3%. Compared to the previous month, the largest negative change was recorded in Electricity at -5.8%. (Table 2)
Percentage change analysis
Compared to April 2022, the largest changes were observed in Furniture, Household Equipment and Cleaning Products (6.8%) and Food and Non-Alcoholic Beverages (6.7%). (Table 1)
Compared to March 2023, the largest change was observed in Clothing and Footwear (3.0%). (Table 1)
For the period January to April 2023 compared to the same period last year, the largest changes occurred in the categories Housing, Water, Electricity and Gas (13.7%) and Food and Non-Alcoholic Beverages (8.5%). (Table 1)
Impact analysis in units
The largest impact on the change in April 2023 CPI compared to April 2022 was for Food and Non-alcoholic Beverages (1.41) and Housing, Water, Electricity and LPG (0.79). (Table 3)
The category Housing, Water, Electricity and LPG (-0.33) had the largest negative impact on the month-on-month change in CPI. (Table 3)
The largest impact on the change in the April 2023 CPI compared to the April 2022 index was Petroleum products (-0.86). (Table 4)
Finally, Electricity (-0.33) had the largest negative impact on the change in the April 2023 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 2023
[/TD] [TD]April 2023
[/TD] [TD]Apr 23/ Apr 22
[/TD] [TD]Apr 23/Mar 23
[/TD] [TD]Jan - Apr 23/
Jan - Apr 22
Food and Non-Alcoholic Beverages
[/TD] [TD]117,02
[/TD] [TD]117.97
[/TD] [TD]6.71
[/TD] [TD]0.81
[/TD] [TD]8,50
[/TD] [/TR] [TR] [TD]Alcoholic Beverages and Tobacco
[/TD] [TD]100,23
[/TD] [TD]100,82
[/TD] [TD]1,88
[/TD] [TD]0,59
[/TD] [TD]1,32
[/TD] [/TD] [/TR] [TR] [TD]Clothing and footwear
[/TD] [TD]104,83
[/TD] [TD]108.01
[/TD] [TD]2.36
[/TD] [TD]3.03
[/TD] [TD]1,77
[/TD] [/TR] [TR] [TD]Housing, Water, Electricity and LPG
[/TD] [TD]142.76
[/TD] [TD]139.82
[/TD] [TD]5.30
[/TD] [TD]-2.06
[/TD] [TD]13,71
[/TD] [/TR] [TR] [TD]Furniture, Household Equipment and Cleaning Supplies
[/TD] [TD]105,76
[/TD] [TD]105,77
[/TD] [TD]6,75
[/TD] [TD]0,01
[/TD] [TD]7,76
[/TD] [/TR] [TR] [TD]Health
[/TD] [TD]104.80
[/TD] [TD]104.90
[/TD] [TD]1,54
[/TD] [TD]0.10
[/TD] [TD]1.42
[/TD] [/TD] [/TR] [TR] [TD]Transport
[/TD] [TD]114,38
[/TD] [TD]115.22
[/TD] [TD]-1.31
[/TD] [TD]0.73
[/TD] [TD]2,16
[/TD] [/TR] [TR] [TD]Communications
[/TD] [TD]90.68
[/TD] [TD]91.00
[/TD] [TD]-2,86
[/TD] [TD]0,35
[/TD] [TD]-3,12
[/TD] [/TD] [/TR] [TR] [TD]Leisure and Culture
[/TD] [TD]111,06
[/TD] [TD]111,46
[/TD] [TD]6,16
[/TD] [TD]0,36
[/TD] [TD]6,29
[/TD] [/TR] [TR] [TD]Education
[/TD] [TD]109.30
[/TD] [TD]109.30
[/TD] [TD]1.81
[/TD] [TD]0,00
[/TD] [TD]1,81
[/TD] [/TR] [TR] [TD]Restaurants and Hotels
[/TD] [TD]119,18
[/TD] [TD]119.71
[/TD] [TD]6.29
[/TD] [TD]0.44
[/TD] [TD]7.91
[/TD] [/TR] [TR] [TD]Other Goods and Services
[/TD] [TD]106,82
[/TD] [TD]107.27
[/TD] [TD]4.11
[/TD] [TD]0.42
[/TD] [TD]4.15
[/TD] [/TR] [TR] [TD]
General Consumer Price Index
[/TD] [TD]114,03
[/TD] [TD]
114.39
[/TD] [TD]3.65
[/TD] [TD]0.32
[/TD] [TD]5,78
[/TD] [/TR]
|
Table 2 |
[/TD] [/TR] [TR] [TD] [TD]
Economic Categories
[/TD] [TD]Weighting Coefficients
[/TD] [TD] [TD]Mchanges (%)
[/TD] [/TR] [TR] [TD]Apr 23/Apr 22
[/TD] [/TD] [TD]Apr 23/ Mar 23
[/TD] [/TR] [TR] [TD]Agricultural Products
[/TD] [TD]749
[/TD] [TD]-0,27
[/TD] [TD]1,97
[/TD] [/TR] [TR] [TD]Industrial Products
(except Petroleum Products)
4021
[/TD] [TD]7,18
[/TD] [TD]0,64
[/TD] [/TR] [TR] [TD]Electricity
[/TD] [TD]316
[/TD] [TD]8.80
[/TD] [TD]-5.76
[/TD] [/TR] [TR] [TD]Petroleum
[/TD] [TD]871
[/TD] [TD]-7,32
[/TD] [TD]-1.20
[/TD] [/TR] [TR] [TD]Water
[/TD] [TD]72
[/TD] [TD]3,55
[/TD] [TD]0.00
[/TD] [/TR] [TR] [TD]Services
[/TD] [TD]3971
[/TD] [TD]3,37
[/TD] [TD]0.81
[/TD] [/TR] [TR] [TD]
General Index
[/TD] [TD]10000
[/TD] [TD]3,65
[/TD] [TD]
0,32
[/TD] [/TR]
| Table 3 |
[TD] [/TD] [TD]
[/TD]
[TR] [TD]
Categories of Goods and Services
[/TD] [TD]Weighting Coefficients
[/TD] [TD]Impact (units)
[/TD] [/TR] [TR] [TD]Apr 23/Apr 22
[/TD] [/TD] [TD]Apr 23/ Mar 23
[/TD] [/TD] [/TR] [TR] [TD]Food and Non-Alcoholic Beverages
[/TD] [TD]1906
[/TD] [TD]1,41
[/TD] [TD]0.18
[/TD] [/TR] [TR] [TD]Alcoholic Beverages and Tobacco
[/TD] [/TD] [TD]347
[/TD] [TD]0.06
[/TD] [TD]0,02
[/TD] [/TR] [TR] [TD]Clothing and footwear
[/TD] [TD]721
[/TD] [TD]0,18
[/TD] [TD]0,23
[/TD] [/TR] [TR] [TD]Housing, Water, Electricity and LPG
[/TD] [/TD] [TD]1119
[/TD] [TD]0.79
[/TD] [TD]-0.33
[/TD] [/TR] [TR] [TD]Furnishings, Household Equipment and Cleaning Supplies
[/TD] [/TD] [TD]644
[/TD] [TD]0,43
[/TD] [TD]0,00
[/TD] [/TR] [TR] [TD]Health
[/TD] [/TD] [TD]637
[/TD] [TD]0,10
[/TD] [TD]0.01
[/TD] [/TR] [TR] [TD]Transport
[/TD] [TD]1524
[/TD] [TD]-0,23
[/TD] [TD]0.13
[/TD] [/TR] [TR] [TD]Communications
[/TD] [TD]439
[/TD] [TD]-0,12
[/TD] [TD]0,01
[/TD] [/TR] [TR] [TD]Leisure and culture
[/TD] [TD]575
[/TD] [TD]0,37
[/TD] [TD]0,02
[/TD] [/TR] [TR] [TD]Education
[/TD] [TD]392
[/TD] [TD]0.08
[/TD] [TD]0,00
[/TD] [/TR] [TR] [TD]Restaurants and Hotels
[/TD] [TD]836
[/TD] [TD]0,59
[/TD] [TD]0,04
[/TD] [/TR] [TR] [TD]Other Goods and Services
[/TD] [TD]860
[/TD] [TD]0,36
[/TD] [TD]0,04
[/TD] [/TR] [TR] [TD]
General Consumer Price Index
[/TD] [TD]10000
[/TD] [TD]4,03
[/TD] [TD]
0,36
[/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 |
[TR] [TD]
Products/Services
[/TD] [/TD] [TD]Impact (units)
[/TD] [/TR] [TR] [TD] [TD]Apr 23/Apr 22
[/TD] [/TR] [TR] [TD]Positive impact
[/TD] [TD] [/TD] [/TR] [TR] [TD]Catering services
[/TD] [TD]0,58
[/TD] [/TR] [TR] [TD]Electricity
[/TD] [TD]0.44
[/TD] [/TR] [TR] [TD]Car purchase
[/TD] [TD]0.36
[/TD] [/TR] [TR] [TD]Fresh meat
[/TD] [TD]0,24
[/TD] [/TR] [TR] [TD]Services for regular maintenance of the dwelling
[/TD] [TD]0,24
[/TD] [/TR] [TR] [TD]Clothing
[/TD] [TD]0,15
[/TD] [/TR] [TR] [TD]Miscellaneous other goods and services
[/TD] [/TD] [TD]3,39
[/TD] [/TR] [TR] [TD]Negative impact
[/TD] [TD] [/TD] [/TR] [TR] [TD]Petroleum products
[/TD] [TD]-0,86
[/TD] [/TR] [TR] [TD]Fresh vegetables
[/TD] [TD]-0.31
[/TD] [/TR] [TR] [TD]Fresh fruit
[/TD] [TD]-0,20
[/TD] [/TR] [TR] [TD]
TOTAL
[/TD] [/TD] [TD]4,03
[/TD] [/TR]
|
Table 5 |
[/TD]
[TR] [TD]
Products/Services
[/TD] [TD]Impact (units)
[/TD] [/TR] [TR] [TD]
Apr 23/ Mar 23
[/TD] [/TR] [TR] [TD]Positive impact
[/TD] [TD] [/TD] [/TR] [TR] [TD]Airline
[/TD] [TD]0,20
[/TD] [/TR] [TR] [TD]Clothing
[/TD] [TD]0.18
[/TD] [/TR] [TR] [TD]Miscellaneous other products and services
[/TD] [/TD] [TD]0,31
[/TD] [/TR] [TR] [TD]Negative impact
[/TD] [TD] [/TD] [/TR] [TR] [TD]Electricity
[/TD] [TD]-0,33
[/TD] [/TR] [TR] [TD]
TOTAL
[/TD] [TD]0,36
[/TD] [/TR] [/TR]
Methodological information
Definitions
The Consumer Price Index (CPI) is an economic indicator compiled to measure changes over time in the prices of purchased consumer goods and services, 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
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 Districts: 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.
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 on the basis of the COICOP4 classification in which 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.
For more information:
Statistical Service Portal, under 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. 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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