The Consumer Price Index in January 2022 decreased by 0.53 points to 104.57 points compared to 105.10 points in December 2021. Inflation in January 2022 increased at a rate of 5.4%. (Table 1)
The largest changes in economic categories compared to January 2021 were recorded in Electricity at 26.3% and Petroleum products at 25.3%. Compared to the previous month, the largest change occurred in Agricultural Products with a rate of 4.3%. (Table 2)
Analysis of percentage changes
Compared to January 2021, the largest changes were observed in Housing, Water, Electricity & LPG (14.1%) and Transport (13.3%). (Table 1)
Compared with December 2021, the largest negative change was recorded in the Clothing & Footwear category (-12.7%). (Table 1)
Impact analysis in units
The largest impact on the January 2022 CPI change relative to January 2021 was in the Transportation (1.91) and Housing, Water, Electricity & LPG (1.67) categories. (Table 3)
The largest negative impact on the month-on-month change in CPI was in the Clothing and footwear category (-0.99). (Table 3)
The largest impact on the change in the January 2022 CPI compared to January 2021 was recorded for Oil products (1.83) and Electricity (0.88). (Table 4)
Finally, clothing (-0.67) and footwear (-0.32) had the largest negative impact on the change in the January 2022 CPI compared to the previous month's index. (Table 5)
| Table 1 | ||
| Categories of Goods and Services | CPI (2015=100) | Changes (%) |
|
December 2021 |
[TD]
January
2022
[/TD] [TD]Jan 22/
Jan 21
[/TD] [TD] [TD]Jan 22/
Dec 21
[/TD][TR] [TD]
Food and non-alcoholic beverages
[/TD] [TD]100,45
[/TD] [TD]102.83
[/TD] [TD]3.52
[/TD] [TD]2.37
[/TD] [/TR] [TR] [TD]Alcoholic Beverages and Tobacco
[/TD] [TD]97.50
[/TD] [TD]98.18
[/TD] [TD]0,61
[/TD] [TD]0,70
[/TD] [/TD] [/TR] [TR] [TD]Clothing and footwear
[/TD] [TD]107,63
[/TD] [TD]93,95
[/TD] [TD]3,66
[/TD] [TD]-12,71
[/TD] [/TR] [TR] [TD]Housing, Water, Electricity and LPG
[/TD] [TD]121.36
[/TD] [TD]121.03
[/TD] [TD]14.05
[/TD] [TD]-0,27
[/TD] [/TD] [/TR] [TR] [TD]Furniture, Household Equipment and Cleaning Products
[/TD] [TD]97,35
[/TD] [TD]96,59
[/TD] [TD]1,92
[/TD] [TD]-0,78
[/TD] [/TR] [TR] [TD]Health
[/TD] [TD]103.15
[/TD] [TD]103.17
[/TD] [TD]0.90
[/TD] [TD]0.02
[/TD] [/TR] [TR] [TD]Transport
[/TD] [TD]107,08
[/TD] [TD]106.74
[/TD] [TD]13.29
[/TD] [TD]-0.32
[/TD] [/TR] [TR] [TD]Communications
[/TD] [TD]94.09
[/TD] [TD]93.70
[/TD] [TD]2,40
[/TD] [TD]-0.41
[/TD] [/TD] [/TR] [TR] [TD]Leisure and Culture
[/TD] [TD]103.86
[/TD] [TD]104.11
[/TD] [TD]2.17
[/TD] [TD]0,24
[/TD] [/TR] [TR] [TD]Education
[/TD] [TD]107.36
[/TD] [TD]107.36
[/TD] [TD]0,56
[/TD] [TD]0,00
[/TD] [/TR] [TR] [TD]Restaurants and Hotels
[/TD] [TD]108,11
[/TD] [TD]109.02
[/TD] [TD]3.62
[/TD] [TD]0.84
[/TD] [/TR] [TR] [TD]Other Goods and Services
[/TD] [/TD] [TD]101,47
[/TD] [TD]101.93
[/TD] [TD]1.32
[/TD] [TD]0.45
[/TD] [/TR] [TR] [TD]
General Consumer Price Index
[/TD] [TD]105,10
[/TD] [TD]104.57
[/TD] [TD]5.40
[/TD] [TD]-0,50
[/TD] [/TR]
| Table 2 |
[TR] [TD] [TD]
Economic Categories
[/TD] [TD]Weighting Coefficients
[/TD] [TD] [TD]Mchanges (%)
[/TD] [/TR] [TR] [TD]
Jan 22/
Jan 21
[/TD] [/TD] [TD]Jan 22/
Dec 21
[/TD] [/TR] [TR] [TD]Agricultural Products
[/TD] [TD]655
[/TD] [TD]7,20
[/TD] [TD]4,33
[/TD] [/TR] [TR] [TD]Industrial Products
(except Petroleum Products)
[/TD] [TD]4195
[/TD] [TD]2,53
[/TD] [TD]-1,97
[/TD] [/TR] [TR] [TD]Electricity
[/TD] [TD]319
[/TD] [TD]26.34
[/TD] [TD]-2,07
[/TD] [/TR] [TR] [TD]Petroleum products
[/TD] [TD]550
[/TD] [TD]25,28
[/TD] [TD]-0.04
[/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]2,43
[/TD] [TD]0,05
[/TD] [/TR] [TR] [TD]
General Index
[/TD] [TD]10000
[/TD] [TD]5,40
[/TD] [TD]-0,50
[/TD] [/TR]
| Table 3 | |||
| [TD] Categories of Goods and Services | Weighting Coefficients | [TD] Impact (units) | |
| Jan 22/ Jan 21 | Jan 22/ Dec 21 | ||
| Food and Non-Alcoholic Beverages | 1906 | 0,67 | 0.45 |
| Alcoholic Beverages and Tobacco | 347 | 0.02 | 0,02 |
| Clothing and footwear | 721 | 0,24 | -0,99 |
| Housing, Water, Electricity and LPG | 1119 | 1.67 | -0.04 |
| Furnishings, Household Equipment and Cleaning Products | 644 | 0.12 | -0.05 |
| Health | 637 | 0,06 | 0,00 |
| Transport | 1524 | 1,91 | -0.05 |
| Communications | 439 | 0,10 | -0.02 |
| Leisure and culture | 575 | 0.13 | 0,01 |
| Education | 392 | 0.02 | 0,00 |
| Restaurants and Hotels | 836 | 0,32 | 0,08 |
| Other Goods and Services | 860 | 0,11 | 0,04 |
|
General Consumer Price Index |
[TD]
10000
[/TD] [TD]5,36
[/TD] [TD]-0.53
[/TD][TR] [TD]
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.
[/TD] [/TR]
| Table 4 |
[TR] [TD]
Products/Services
[/TD] [TD]Impact (units)
[/TD] [TD]Impact (units)
[/TD] [/TR] [TR] [TD]
Jan 22/ Jan 21
[/TD] [/TR] [TR] [TD]Positive impact
[/TD] [TD] [/TD] [/TR] [TR] [TD]Petroleum products
[/TD] [TD]1,83
[/TD] [/TR] [TR] [TD]Electricity
[/TD] [TD]0,88
[/TD] [/TR] [TR] [TD]Power services
[/TD] [TD]0,32
[/TD] [/TR] [TR] [TD]Services for regular home maintenance
[/TD] [TD]0,28
[/TD] [/TR] [TR] [TD]Purchase of cars
[/TD] [TD]0,23
[/TD] [/TR] [TR] [TD]Fresh vegetables
[/TD] [/TD] [TD]0,19
[/TD] [/TR] [TR] [TD]Clothing
[/TD] [TD]0,13
[/TD] [/TR] [TR] [TD]LPG
[/TD] [TD]0,13
[/TD] [/TR] [TR] [TD]Footwear
[/TD] [TD]0,11
[/TD] [/TR] [TR] [TD]Fresh fruit
[/TD] [/TD] [TD]0,11
[/TD] [/TR] [TR] [TD]Miscellaneous other products and services
[/TD] [/TD] [TD]1,15
[/TD] [/TR] [TR] [TD]TOTAL
[/TD] [/TD] [TD]5,36
[/TD] [/TR] Table 5 [TR] [TD] Products/Services Impact (units) Jan 22/Dec 21 Positive impact Fresh vegetables 0,25 Miscellaneous other products and services 0,21 Negative impact Clothing -0,67 Footwear -0,32 TOTAL -0,53
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.
Inflation shows the change in the CPI compared to the corresponding month of the previous year.
Impact represents the amount of the total change in CPI attributable to the reported category/good/service.
Pricing
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 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 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. More information is available in the "Consumer Price Index" file posted on the Statistics Office website under the statistical theme "Economy/Consumer Price Index" in the Methodology section.
For more information:
Statistics Office Portal, under Price Indices
CYSTAT-DB (Database)
Predefined Tables (Excel)
The Predefined Tables are available in Excel format until December 2021. Thereafter, the data will be updated only in the CYSTAT-DB Database.
Contact:
Constantia Papageorgiou: Tel:+35722602116, Tel.
cpapageorgiou@cystat.mof.gov.cy
(NΓ/ΣΧ)
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