Prices of consumer goods and services up 4.7% in November

The Harmonized Index of Consumer Prices, which measures the changes over time in the prices of consumer goods and services acquired by households, increased by 4.7% in November 2021, compared to the index of November 2020.  But when compared to the index of October 2021, the HICP increased by only 0.1%, according to the Statistical Service of Cyprus.

The surge is mainly due to large increases in energy and electricity costs.

For the period January - November 2021 the HICP recorded an increase of 2.0% compared to the corresponding period of the previous year.

Compared to November 2020, the largest changes were noted in Housing, Water, Electricity, Gas and Other Fuels and Transport with 17.5% and 15.9%, respectively.

Compared to October 2021, the largest change was recorded in Housing, Water, Electricity, Gas and Other Fuels with a percentage of 3.5%.

For the period January – November 2021, compared to the corresponding period of the previous year, the largest change was noted in Transport (8.1%).

The largest change when compared both to the index of November 2020 and to the index of the previous month, was observed in Energy with percentages of 31.3% and 4.4% respectively.