Cyprus inflation up 2.3% in July

Cyprus inflation up 2.3% in July

In July 2018, the Consumer Price Index decreased by 1.17 units to 100.32 units, compared to 101.49 units in June 2018. Compared to July 2017, the CPI is increased by 2.3% while for the period January – July 2018, the CPI is increased by 0.6% compared to the corresponding period of the previous year.

In the twelve-month period from August 2017 to July 2018, in comparison to the period from August 2016 to July 2017, the annual average rate of change of the CPI was 0.3%, same as in the previous twelve month period.

As regards the economic origin, the largest change when compared to the index of July 2017, was recorded in Petroleum products with an increase of 13,8%, while in comparison to the index of the previous month a decrease of 3,4% was observed in Industrial goods (excl. petroleum products).

Compared to July 2017, the largest positive change was noted in Transport (6.7%).

In comparison to the CPI of June 2018, the largest negative change was noted in Clothing and Footwear (-15.6%).

For the period January-July 2018, compared to the corresponding period of the previous year, the largest positive change was noted in Transport (4.1%), while a decrease was recorded in Alcoholic Beverages and Tobacco (-1.8%).

The category with the largest effect on the change of the CPI of July 2018 compared to the previous month, was the Clothing and Footwear (-1.20).

The products/services with the most notable effect on the change of the CPI of July 2018 compared to the previous month were Clothing (-0.87) and Footwear(-0.33)./IBNA