Cyprus: Consumer Price Index rises in September

Cyprus: Consumer Price Index rises in September

September 2020 Consumer Price Index increased by 0.85 points at 99.95, compared to August 2020’s 99.10. YoY, the CPI decreased by 0.9%.

Regarding the January-September 2020 period, the CPI fell by 0.6% compared to the corresponding period last year.

The largest variations in the economic categories compared to September 2019 were recorded in Electricity and Petroleum,  at -25.9% and -10.1% respectively. Compared to the previous month, the category of Agricultural Products showed the largest alteration at a rate of 5.8%.

Analyzing percentage changes

In relation to September 2019, the largest negative changes were observed in the categories of Housing, Water, Electricity and LPG (-8.2%) and Transport (-4.1%), while a positive change was achieved in the category Food and Non-Alcoholic Beverages ( 2.3%).

In juxtaposition to August 2020, the largest positive alteration was recorded in the category of Clothing and Footwear (8%), while a negative change was recorded in the category of Transport (-1.2%).

Taking a look at the January – September 2020 period in relation to the corresponding period last year, the largest change was present in the category of Transport, with a percentage of -4%.

Impact analysis in units

The biggest negative effect on the change of the September 2020 CPI YoY was observed in the categories of Housing, Water, Electricity and LPG (-1.00) and Transport (-0.61), while the categories of Food and Non-Alcoholic Beverages (0.43) scored a positive effect.

The biggest positive effect on the change of the CPI compared to the previous month was recorded in the categories of Clothing and Footwear (0.53) and Food and Non-Alcoholic Beverages (0.47), while a negative impact was shown at the category of Transport (-0.17) .

Electricity (-0.95) and petroleum products (-0.86) had the largest impact on the change in the September 2020 CPI YoY.

Finally, clothing (0.34) and fresh vegetables (0.31) had the largest positive effect on the change in the CPI of September 2020 compared to the corresponding index of the previous month, while a negative impact was recorded on air fares (-0 , 19). /ibna