The Consumer Price Index in November 2022 increased by 0.54 points to 114.55 points compared to 114.01 points in October 2022. Inflation in November 2022 increased at a rate of 8.7%. (Table 1)
For the period January-November 2022, the CPI increased 8.4% compared to the same period last year. (Table 1)
The largest changes in economic categories compared to November 2021 were recorded in Electricity at 32.3% and in Petroleum products at 16.3%. Compared to the previous month, the largest change occurred in Water (3.6%). (Table 2)
Percentage change analysis
Compared to November 2021, the largest changes were observed in Housing, Water, Electricity and LPG (17.3%), Food and Non-Alcoholic Beverages (15.5%), and Transportation (10.7%). (Table 1)
Compared to October 2022, the largest change was in Clothing and Footwear (1.4%). (Table 1)
For the period January to November 2022 compared to the same period last year, the largest changes occurred in the categories Housing, Water, Electricity & Gas (21.4%) and Transport (16.9%). (Table 1)
Unit impact analysis
The largest impact on the change in November 2022 CPI compared to November 2021 was in the Food and Non-Alcoholic Beverages categories (2,97), Housing, Water, Electricity and LPG (2.36) and Transport (1.76). (Table 3)
The categories Food and Non-Alcoholic Beverages (0.19), Transportation (0.16) and Clothing and Footwear (0.11) had the largest positive impact on the month-on-month change in CPI. (Table 3)
The largest impact on the change in the November 2022 CPI compared to the November 2021 index was for Petroleum (1.58) and Electricity (1.40). (Table 4)
Finally, Petroleum products (0.23) had the largest positive impact on the change in the November 2022 CPI compared to the previous month's index. (Table 5)
| Table 1 |
[/TD]
[TR] [TD]
Goods categories and Services
[/TD] [/TD] [TD]CPI (2015=100)
[/TD] [TD]Changes (%)
[/TD] [/TR] [TR] [TD] [TD]October
2022
[/TD] [TD]November
2022
[/TD] [TD]Nov 22/
Nov 21
[/TD] [TD]Nov 22
Oct 22
[/TD] [TD]Jan - Nov 22/
Jan - Nov 21
[/TD] [/TR] [TR] [TD]Food and Non-Alcoholic Beverages
[/TD] [TD]115,48
[/TD] [TD]116.48
[/TD] [TD]15.46
[/TD] [TD]0.87
[/TD] [TD]8.56
[/TD] [/TD] [/TR] [TR] [TD]Alcoholic Beverages and Tobacco
[/TD] [TD]98,79
[/TD] [TD]98.80
[/TD] [TD]1.14
[/TD] [TD]0.01
[/TD] [TD]0,98
[/TD] [/TR] [TR] [TD]Clothing and footwear
[/TD] [TD]106.29
[/TD] [TD]107.76
[/TD] [TD]0,01
[/TD] [TD]1,38
[/TD] [TD]1,76
[/TD] [/TD] [/TR] [TR] [TD]Housing, Water, Electricity and LPG
[/TD] [TD]143,36
[/TD] [TD]142,96
[/TD] [TD]17,31
[/TD] [TD]-0,28
[/TD] [TD]21,38
[/TD] [/TD] [/TR] [TR] [TD]Furniture, Household Appliances and Cleaning Products
[/TD] [TD]103,61
[/TD] [TD]103,58
[/TD] [TD]7.14
[/TD] [TD]-0.03
[/TD] [TD]5.01
[/TD] [/TD] [/TR] [TR] [TD]Health
[/TD] [TD]103,86
[/TD] [TD]103.99
[/TD] [TD]0.84
[/TD] [TD]0.13
[/TD] [TD]0,76
[/TD] [/TR] [TR] [TD]Transfers
[/TD] [TD]118,68
[/TD] [TD]119,75
[/TD] [TD]10,70
[/TD] [TD]0.90
[/TD] [TD]16.92
[/TD] [/TD] [/TR] [TR] [TD]Communications
[/TD] [TD]91,86
[/TD] [TD]91,86
[/TD] [TD]-2,37
[/TD] [TD]0,00
[/TD] [TD]-0,15
[/TD] [/TR] [TR] [TD]Leisure and Culture
[/TD] [TD]109,55
[/TD] [TD]110,55
[/TD] [TD]6,54
[/TD] [TD]0,91
[/TD] [TD]4,27
[/TD] [/TR] [TR] [TD]Education
[/TD] [TD]109.30
[/TD] [TD]109.30
[/TD] [TD]1.81
[/TD] [TD]0,00
[/TD] [TD]0,89
[/TD] [/TD] [/TR] [TR] [TD]Restaurants and Hotels
[/TD] [TD]117,60
[/TD] [TD]117,87
[/TD] [TD]9,14
[/TD] [TD]0,23
[/TD] [TD]7,44
[/TD] [/TR] [TR] [TD]Other Goods and Services
[/TD] [TD]105,17
[/TD] [TD]105,59
[/TD] [TD]4,09
[/TD] [TD]0,40
[/TD] [TD]2,57
[/TD] [/TR] [TR] [TD]General Consumer Price Index
[/TD] [TD]114,01
[/TD] [TD]114.55
[/TD] [TD]8.72
[/TD] [TD]0.47
[/TD] [TD]8,43
[/TD] [/TR]
| Table 2 |
[TR] [TD] [TD]
Economic Categories
[/TD] [TD]Weighting Coefficients
[/TD] [TD] [TD]M (%)
[/TD] [/TD] [/TR] [TR] [TD]Nov 22/Nov 21
[/TD] [/TD] [TD]Nov 22/Oct 22
[/TD] [/TR] [TR] [TD]Agricultural Products
[/TD] [TD]749
[/TD] [TD]16,75
[/TD] [TD]0,59
[/TD] [/TR] [TR] [TD]Industrial Products
(excluding Petroleum Products)
[/TD] [TD]4021
[/TD] [TD]7,64
[/TD] [TD]0,71
[/TD] [/TR] [TR] [TD]Electricity
[/TD] [TD]316
[/TD] [TD]32.29
[/TD] [TD]-1,40
[/TD] [/TR] [TR] [TD]Petroleum products
[/TD] [TD]871
[/TD] [TD]16,32
[/TD] [TD]2,21
[/TD] [/TR] [TR] [TD]Water
[/TD] [TD]72
[/TD] [TD]3,55
[/TD] [TD]3,55
[/TD] [/TR] [TR] [TD]Services
[/TD] [TD]3971
[/TD] [TD]4,19
[/TD] [TD]-0.04
[/TD] [/TR] [TR] [TD]
General Index
[/TD] [TD]10000
[/TD] [TD]8,72
[/TD] [TD]
0
[/TD] [TD]0,47
[/TD] [/TR]
| Table 3 | ||
| [TD] Categories of Goods and Services | Weighting Coefficients | [TD] Impact (Units) |
Nov 22/No 21
[/TD] [TD]Nov 22/Oct 22
[/TD] [/TR] [TR] [TD]Food and Non-Alcoholic Beverages
[/TD] [TD]1906
[/TD] [TD]2,97
[/TD] [TD]0.19
[/TD] [/TR] [TR] [TD]Alcoholic Beverages and Tobacco
[/TD] [/TD] [TD]347
[/TD] [TD]0.04
[/TD] [TD]0,00
[/TD] [/TR] [TR] [TD]Clothing and footwear
[/TD] [TD]721
[/TD] [TD]0,00
[/TD] [TD]0,11
[/TD] [/TR] [TR] [TD]Housing, Water, Electricity and LPG
[/TD] [/TD] [TD]1119
[/TD] [TD]2.36
[/TD] [TD]-0.04
[/TD] [/TR] [TR] [TD]Furnishings, Household Equipment and Cleaning Products
[/TD] [/TD] [TD]644
[/TD] [TD]0,44
[/TD] [TD]0,00
[/TD] [/TR] [TR] [TD]Health
[/TD] [TD]637
[/TD] [TD]0,06
[/TD] [TD]0.01
[/TD] [/TR] [TR] [TD]Transport
[/TD] [TD]1524
[/TD] [TD]1,76
[/TD] [TD]0.16
[/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]0,39
[/TD] [TD]0,06
[/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]0,83
[/TD] [TD]0,02
[/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]9,19
[/TD] [TD]
0,54
[/TD] [/TR] [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]Nov 22/ Nov 21
[/TD] [/TR] [TR] [TD]Positive impact
[/TD] [TD] [/TD] [/TR] [TR] [TD]Petroleum products
[/TD] [TD]1,58
[/TD] [/TR] [TR] [TD]Electricity
[/TD] [TD]1,40
[/TD] [/TR] [TR] [TD]Power services
[/TD] [TD]0,80
[/TD] [/TR] [TR] [TD]Fresh vegetables
[/TD] [TD]0,48
[/TD] [/TR] [TR] [TD]Car purchase
[/TD] [TD]0,44
[/TD] [/TR] [TR] [TD]Fresh meat
[/TD] [TD]0,40
[/TD] [/TR] [TR] [TD]Services for regular maintenance of the dwelling
[/TD] [TD]0,34
[/TD] [/TR] [TR] [TD]Potatoes
[/TD] [TD]0,18
[/TD] [/TR] [TR] [TD]Oils and fats
[/TD] [TD]0,18
[/TD] [/TR] [TR] [TD]Miscellaneous other products and services
[/TD] [TD]3,39
[/TD] [/TR] [TR] [TD]TOTAL
[/TD] [/TD] [TD]9,19
[/TD] [/TR]
|
Table 5 |
[TR] [TD]
Products/Services
[/TD] [TD]Impact (units)
[/TD] [/TD] [/TR] [TR] [TD]
Nov 22Oct 22
[/TD] [/TR] [TR] [TD]
Positive impact
[/TD] [TD] [/TD] [/TR] [TR] [TD]Petroleum products
[/TD] [TD]0,23
[/TD] [/TR] [TR] [TD]Clothing
[/TD] [TD]0.06
[/TD] [/TR] [TR] [TD]Potatoes
[/TD] [TD]0.06
[/TD] [/TR] [TR] [TD]Catering services
[/TD] [TD]0,05
[/TD] [/TR] [TR] [TD]Subscriptions to television stations
[/TD] [TD]0,05
[/TD] [/TR] [TR] [TD]Footwear
[/TD] [TD]0,04
[/TD] [/TR] [TR] [TD]Miscellaneous other products and services
[/TD] [TD]0,27
[/TD] [/TR] [TR] [TD]Negative impact
[/TD] [TD] [/TD] [/TR] [TR] [TD]Airline fares
[/TD] [/TD] [TD]-0,09
[/TD] [/TR] [TR] [TD]Electricity
[/TD] [TD]-0.08
[/TD] [/TR] [TR] [TD]Fresh fruit
[/TD] [TD]-0,04
[/TD] [/TR] [TR] [TD]
TOTAL
[/TD] [/TD] [TD]0,54
[/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
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
For more information:
Statistical Service Portal, Price Indices, CYSTAT-DB (Data Base), Predefined Tables (Excel), Methodological Information
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:+35722602116, Tel. Postal: cpapageorgiou@cystat.mof.gov.cy
(NΓ/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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