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12° Nicosia,
12 August, 2022
 

Inflation in Cyprus creeps close to 11% in July

Increased by 1.39 points in the electricity and petroleum products sector

Source: CNA

Inflation in July 2022, hit the double-digit mark, recording an increase of 10.9%, with the Consumer Price Index increasing by 1.39 units and reaching 113.63 units compared to 112.24 units in June 2022.

According to data published by the Statistical Service on Thursday, the largest changes in economic origin when compared to the index of July 2021 were recorded in Electricity, by 61.7% and in Petroleum Products by 44.1%.

The largest changes in categories of Goods and Services were monitored in the categories Housing, Water, Electricity, Gas and Other Fuels by 29.2% and Transport, by 25.3%.

The largest change in the CPI, compared to the Index of July 2021, was recorded by the categories Transport, with an effect of 4 units and Housing, Water, Electricity, Gas and Other Fuels, by 3.73 units.

At the same time, Petroleum Products and Electricity had the most notable effect on the change of the CPI of July 2022 compared to July 2021, with 3.86 and 2.39 units respectively.

In comparison to the Index of June 2022, the largest positive change was monitored in Electricity, by 16.7%.

The largest change in categories of goods and services was noted in Clothing and Footwear, which decreased by 10.2%.

The category Housing, Water, Electricity, Gas and Other Fuels had the largest positive effect on the change of the CPI compared to the previous month, with 1.05 units, while, in economic origin, Electricity had the largest positive effect on the change of the CPI of July 2022, by 0.90 units, compared to the previous month.

For the period January-July 2022, the CPI increased by 8.2% compared to the corresponding period of the previous year, when the largest changes were recorded in Housing, Water, Electricity, Gas and Other Fuels, by 20.1% and in Transport, by 18.7%.

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Cyprus  |  economy  |  inflation

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