Inflation 4.8%
The Consumer Price Index in December 2021 decreased by 0.26 points to 105.10 points compared to 105.36 points in November 2021. Inflation in December 2021 increased at a rate of 4.8%. (Table 1)
For the January-December 2021 period, the CPI increased by 2.5% compared to the same period last year. (Table 1)
The largest changes in economic categories compared to December 2020 were recorded in Electricity at 30.9% and in Petroleum products at 27.5%. Compared to the previous month, the largest change was in Petroleum Products at -2.0%. (Table 2)
Percentage change analysis
Compared to December 2020, the largest changes were observed in the categories Housing, Water, Electricity and Liquid Water
(15.4%) and Transport (14.8%). (Table 1)
Compared to November 2021, the largest negative change was in Transport (-1.0%). (Table 1)
For the January-December 2021 period compared with the same period last year, the largest positive change was in the categories Transport (8.7%) and Housing, water, electricity and gas (7.2%), while the largest negative change was in the category Communications (-1.4%). (Table 1)
Impact analysis in units
The largest impact on the change in CPI in December 2021 compared to December 2020 was in the categories Transport (2.10) and Housing, Water, Electricity and LPG (1.81). (Table 3)
The largest negative impact on the month-on-month change in CPI was in the Transport category[/I] (-0.17). (Table 3)
The largest impact on the change in CPI in December 2021 compared to December 2020 was for petroleum products (1.95) and electricity (1.02). (Table 4)
Finally, petroleum products (-0.18) and fresh vegetables (-0.15) had the largest negative impact on the change in the December 2021 CPI compared to the previous month's index. (Table 5)
|
Table 1 |
[/TD]
[TR] [TD]
Categories of Goods and Services
[/TD] [TD]CPI (2015=100)
[/TD] [TD]Changes (%)
[/TD] [/TD] [/TR] [TR] [TD]November 2021
[/TD] [TD]December 2021
[/TD] [TD]Dec 21/ Dec 20
[/TD] [TD]Dec 21/ Nov 21
[/TD] [TD]Jan - Dec 21/ Jan - Dec 20
[/TD] [/TD] [/TR] [TR] [TD]Food and non-alcoholic beverages
[/TD] [TD]100,88
[/TD] [TD]100.45
[/TD] [TD]-0.19
[/TD] [TD]-0.43
[/TD] [TD]-0,38
[/TD] [/TR] [TR] [TD]Alcoholic Beverages and Tobacco
[/TD] [TD]97.69
[/TD] [TD]97.50
[/TD] [TD]0.43
[/TD] [TD]-0,19
[/TD] [TD]-0.26
[/TD] [/TD] [/TR] [TR] [TD]Clothing and footwear
[/TD] [TD]107.75
[/TD] [TD]107.63
[/TD] [TD]2.93
[/TD] [TD]-0.11
[/TD] [TD]1,72
[/TD] [/TR] [TR] [TD]Housing, Water, Electricity and LPG
[/TD] [TD]121.87
[/TD] [TD]121.36
[/TD] [TD]15.36
[/TD] [TD]-0.42
[/TD] [TD]7,18
[/TD] [/TR] [TR] [TD]Furnishings, Household Equipment and Cleaning Supplies
[/TD] [TD]96,68
[/TD] [TD]97,35
[/TD] [TD]2,45
[/TD] [TD]0,69
[/TD] [TD]0,59
[/TD] [/TR] [TR] [TD]Health
[/TD] [TD]103.12
[/TD] [TD]103.15
[/TD] [TD]1,04
[/TD] [TD]0,03
[/TD] [TD]0,74
[/TD] [/TD] [/TR] [TR] [TD]Transport
[/TD] [TD]108,18
[/TD] [TD]107.08
[/TD] [TD]14.79
[/TD] [TD]-1.02
[/TD] [TD]8,66
[/TD] [/TR] [TR] [TD]Communications
[/TD] [TD]94.09
[/TD] [TD]94.09
[/TD] [TD]-0,06
[/TD] [TD]0,00
[/TD] [TD]-1,35
[/TD] [/TD] [/TR] [TR] [TD]Leisure and Culture
[/TD] [TD]103,76
[/TD] [TD]103,86
[/TD] [TD]1,83
[/TD] [TD]0,10
[/TD] [TD]1,77
[/TD] [/TR] [TR] [TD]Education
[/TD] [TD]107.36
[/TD] [TD]107.36
[/TD] [TD]0.56
[/TD] [TD]0,00
[/TD] [TD]0,26
[/TD] [/TR] [TR] [TD]Restaurants and Hotels
[/TD] [TD]108,00
[/TD] [TD]108,11
[/TD] [TD]2,77
[/TD] [TD]0,10
[/TD] [TD]1,11
[/TD] [/TR] [TR] [TD]Other Goods and Services
[/TD] [TD]101,44
[/TD] [TD]101.47
[/TD] [TD]1.55
[/TD] [TD]0.03
[/TD] [TD]1.03
[/TD] [/TR] [TR] [TD]
General Consumer Price Index
[/TD] [TD]
105,36
[/TD] [TD]105.10
[/TD] [TD]4.82
[/TD] [TD]-0.25
[/TD] [TD]2,45
[/TD] [/TR]
| Table 2 |
[/TD]
[TR] [TD]
Economic Categories
[/TD] [TD]Weighting Coefficients
[/TD] [TD]
M (%)
[/TD] [/TD] [/TR] [TR] [TD]
Dec 21/ Dec 20
[/TD] [/TD] [TD] [TD]Dec 21/ Nov 21
[/TD] [/TR] [TR] [TD]Agricultural Products
[/TD] [TD]655
[/TD] [TD]-2,41
[/TD] [TD]-0.48
[/TD] [/TR] [TR] [TD]Industrial Products (except Petroleum Products)
[/TD] [TD]4195
[/TD] [TD]2.40
[/TD] [TD]-0,01
[/TD] [/TR] [TR] [TD]Electricity
[/TD] [TD]319
[/TD] [TD]30.89
[/TD] [TD]-0,84
[/TD] [/TR] [TR] [TD]Petroleum products
[/TD] [TD]550
[/TD] [TD]27,53
[/TD] [TD]-1.97
[/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]2,33
[/TD] [TD]0,04
[/TD] [/TR] [TR] [TD]
General Index
[/TD] [TD]10000
[/TD] [TD]4,82
[/TD] [/TD] [TD]-0,25
[/TD] [/TR]
| Table 3 |
[TD]
[/TD]
[/TD] [/TR] [TR] [TD]
Categories of Goods and Services
[/TD] [TD]Weighting Coefficients
[/TD] [TD]Impact (units)
[/TD] [/TR] [TR] [TD]Dec 21/ Dec 20
[/TD] [TD]Dec 21/ Nov 21
[/TD] [/TR] [TR] [TD]Food and non-alcoholic beverages
[/TD] [TD]1906
[/TD] [TD]-0,04
[/TD] [TD]-0.08
[/TD] [/TR] [TR] [TD]Alcoholic Beverages and Tobacco
[/TD] [TD]347
[/TD] [TD]0.01
[/TD] [TD]-0,01
[/TD] [/TR] [TR] [TD]Clothing and footwear
[/TD] [TD]721
[/TD] [TD]0,22
[/TD] [TD]-0,01
[/TD] [/TR] [TR] [TD]Housing, Water, Electricity and LPG
[/TD] [/TD] [TD]1119
[/TD] [TD]1.81
[/TD] [TD]-0.06
[/TD] [/TR] [TR] [TD]Furnishings, Household Equipment and Cleaning Supplies
[/TD] [/TD] [TD]644
[/TD] [TD]0,15
[/TD] [TD]0,04
[/TD] [/TR] [TR] [TD]Health
[/TD] [/TD] [TD]637
[/TD] [TD]0,07
[/TD] [TD]0,00
[/TD] [/TR] [TR] [TD]Transport
[/TD] [TD]1524
[/TD] [TD]2,10
[/TD] [TD]-0.17
[/TD] [/TR] [TR] [TD]Communications
[/TD] [TD]439
[/TD] [TD]0,00
[/TD] [TD]0,00
[/TD] [/TR] [TR] [TD]Leisure and Culture
[/TD] [TD]575
[/TD] [TD]0,11
[/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]0,24
[/TD] [TD]0,01
[/TD] [/TR] [TR] [TD]Other Goods and Services
[/TD] [TD]860
[/TD] [TD]0,13
[/TD] [TD]0,00
[/TD] [/TR] [TR] [TD]
General IndexConsumer Prices
[/TD] [TD]10000
[/TD] [TD]4,83
[/TD] [TD]-0.26
[/TD] [/TR]
Note: Totals are calculated based on individual impacts with infinite decimals 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]Impact (units)
[/TD] [/TD] [TD]Impact (units)
[/TD] [/TD] [/TR] [TR] [TD]Dec 21/ Dec 20
[/TD] [/TD] [/TR] [TR] [TD]Positive impact
[/TD] [TD] [/TD] [/TR] [TR] [TD]
Petroleum products
[/TD] [TD]1,95
[/TD] [/TR] [TR] [TD]Electricity
[/TD] [TD]1,02
[/TD] [/TR] [TR] [TD]
Services for regular maintenance of dwelling
[/TD] [TD]0,30
[/TD] [/TR] [TR] [TD]Catering services
[/TD] [TD]0,24
[/TD] [/TR] [TR] [TD]Clothing
[/TD] [TD]0,17
[/TD] [/TR] [TR] [TD]Car purchase
[/TD] [TD]0,16
[/TD] [/TR] [TR] [TD]LPG
[/TD] [TD]0.15
[/TD] [/TR] [TR] [TD]Airline fare
[/TD] [TD]0,15
[/TD] [/TR] [TR] [TD]Various other products and services
[/TD] [TD]1,05
[/TD] [/TR] [TR] [TD]
Negative impact
[/TD] [TD] [/TD] [/TR] [TR] [TD]Fresh vegetables
[/TD] [TD]-0,37
[/TD] [/TR] [TR] [TD]
TOTAL
[/TD] [/TD] [TD]4,82
[/TD] [/TR]
|
Table 5 |
[/TD]
[TR] [TD]
Products/Services
[/TD] [TD]Impact (units)
[/TD] [/TR] [TR] [TD]
Dec 21/ Nov 21
[/TD] [/TR] [TR] [TD]Positive impact
[/TD] [TD] [/TD] [/TR] [TR] [TD]Fresh fruit
[/TD] [TD]0,12
[/TD] [/TR] [TR] [TD]Negative impact
[/TD] [TD] [/TD] [/TR] [TR] [TD]Petroleum products
[/TD] [TD]-0,18
[/TD] [/TR] [TR] [TD]Fresh vegetables
[/TD] [TD]-0.15
[/TD] [/TR] [TR] [TD]Electricity
[/TD] [TD]-0,04
[/TD] [/TR] [TR] [TD]
TOTAL
[/TD] [TD]-0,25
[/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 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.
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 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" file posted on the Office for National Statistics website under the statistical theme "Economy/Consumer Price Index" in the Methodology section.
For more information:
Statistical Office Portal, sub-topic Price Indices CYSTAT-DB (Database) Predefined Tables (Excel)
The Predefined Tables will be available in Excel format until December 2021. Thereafter, the data will only be updated in the CYSTAT-DB Database.
(MB/IC)
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