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25 June, 2024
 
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Economic snapshot: 3.9% rise in consumer prices

Consumer price index sees fluctuations in December 2023

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The Harmonized Index of Consumer Prices showed a 1.9% increase in December 2023 compared to the same month in 2022, but experienced a 1.2% decrease compared to the previous month.

According to data from the Statistical Service, there was a 3.9% year-on-year increase for the period of January to December 2023.

In December 2023, the category of Restaurants and Hotels (5.3%) exhibited the highest positive change compared to December 2022, while the Transportation category (-4.2%) recorded the most significant negative change.

Compared to November 2023, the largest variation was observed in the Transportation category (-3.1%).

For the period of January to December 2023, the most notable changes, in comparison to the previous year, were in the categories of Food and Non-Alcoholic Beverages (8.0%) and Restaurants and Hotels (6.4%).

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Cyprus  |  economy  |  prices  |  inflation  |  consumer

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