Inflation in Cyprus spikes to an annual 5.4% in January

January 2022 recorded a spike in Cyprus inflation, rising to 5.4%. At the same time, the Consumer Price Index (CPI) decreased by 0.53 units falling to 104.57, compared to 105.10 in December 2021, according to the Statistical Service of the Republic of Cyprus.

The largest increases, when compared to the index of January 2021, were recorded in Electricity (26.3%) and Petroleum products (25.3%). The categories of Housing, Water, Electricity, Gas and Other Fuels recorded a 14.1% increase, and in Transport a 13.3% increase.

Transport, Housing, Water, Electricity, Gas and Other Fuels had the largest effect on the change of the CPI, with 1.91 and 1.67 units, respectively.

In the previous month's index, the largest change was recorded in Agricultural goods (4.3%).

The largest negative change was noted in Clothing and Footwear (-12.7%).