STATISTICAL SERVICE
OF CYPRUS
1444 NICOSIA
REPUBLIC OF CYPRUS
MINISTRY OF FINANCE
4th May, 2017
PRESS RELEASE
CONSUMER PRICE INDEX (CPI):APRIL 2017
Inflation 2,0%
In April 2017, the Consumer Price Index increased by 0,25 units to 100,01 units compared to 99,76
units in March 2017. Compared to April 2016,CPI is increased by 2,0% while for the period between
January and April 2017, CPI is also increased by 1,5% compared to the corresponding period of the
previous year.(Table 1)
In the twelve-month period from May 2016 to April 2017, in comparison to the period from May 2015
to April 2016, the annual average rate of change of the CPI was-0,2%.
The corresponding annual average rate of change of the CPI in the previous twelve month period was
-2,3%.
As regards the economic origin, the largest change was observed in Electricity with an increase of
39,9% when compared to the index of April 2016.(Table 2)
Address: MichalakisKaraolis Str., 1444 Nicosia, Cyprus
Tel.: 22 602129, Fax No.: 22 661313, E-mail: [email protected]
Web site: http://www.cystat.gov.cy
Analysis of changes
Compared to April 2016, the categories with the biggest positive change were the Housing, Water,
Electricity, Gas and Other Fuels (10,6%), Transport (3,7%) and Food and Non-Alcoholic Beverages
(3,1%). (Table1)
In comparison to the CPI of March 2017, the category with the largest increase was the Clothing and
Footwear (2,4%) while decrease was monitored in Food and Non-Alcoholic Beverages (-1,9%).(Table
1)
For the period between January-April 2017, compared to the corresponding period of the previous year,
the largest positive changes were noted in Housing, Water, Electricity, Gas and Other Fuels (7,1%) and
Food and Non-Alcoholic Beverages (3,1%).(Table 1)
Analysis of effects
The categories with the largest positive effect on the change of the CPI of April 2017 when compared to
April 2016 were the following: Housing, Water, Electricity, Gas and Other Fuels (1,20), Transport
(0,52) and Food and Non-Alcoholic Beverages (0,49).(Table3)
The categories with the largest positive effect on the change of the CPI compared to the previous
month, were the Transport (0,25) and Clothing and Footwear(0,21). The most negative effect was
observed in Food and Non-Alcoholic Beverages (-0,32). (Table 3)
The following products/services had the most notable positive effect on the change of the CPI of April
2017 compared to April 2016: electricity (0,94), petroleum products (0,47) and vegetables
(0,43).(Table 4)
Finally, airtickets (0,25) and clothing (0,16) had the most positive effect on the change of the CPI of
April 2017 compared to the previous month, while meat (-0,10) had the most negative effect. (Table5)
Table 1
CPI (2015=100)
Categories of Goods and
Services
Change (%)
Mar20
17
Apr201
7
Apr
17/Apr
16
Apr17/Mar
17
Jan -Apr 17/
Jan -Apr 16
101,06
99,10
3,13
-1,94
3,08
99,50
99,39
-2,20
-0,11
-1,75
102,35
104,78
-1,82
2,37
-0,63
101,45
101,66
10,57
0,21
7,12
98,01
98,22
-1,11
0,21
-1,83
101,43
101,66
0,68
0,23
0,78
Transport
95,96
97,63
3,67
1,74
2,83
Communication
97,82
97,64
-2,46
-0,18
-2,21
Recreation and Culture
99,58
99,47
0,51
-0,11
0,33
Education
100,75
100,75
0,52
0,00
0,52
Restaurants and Hotels
100,49
100,84
0,85
0,35
0,56
99,40
99,83
-0,15
0,43
-0,43
99,76
100,01
2,00
0,25
1,52
Food and Non-Alcoholic
Beverages
Alcoholic Beverages, Tobacco
Clothing and Footwear
Housing, Water, Electricity,
Gas and Other Fuels
Furnishings, Household
Equipment and Routine
Maintenance of the House
Health
Miscellaneous Goods and
Services
General Consumer Price
Index
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Table 2
Change (%)
Economic Origin
General Index
Weights
Apr17/
Apr 16
Apr17/
Mar17
10000
2,00
0,25
655
9,21
-1,92
4195
-1,18
0,18
Electricity
319
39,87
0,86
Petroleum products
550
10,58
-1,38
57
0,00
0,00
4224
1,03
0,84
Agricultural goods
Industrial goods (excl.
petroleum products)
Water
Services
Table 3
Effect (units)
Categories of Goods and Services
Weights
Apr17/
Apr16
Apr17/
Mar17
1615
0,49
-0,32
Alcoholic Beverages, Tobacco
213
-0,05
0,00
Clothing and Footwear
848
-0,16
0,21
Housing, Water, Electricity, Gas and Other Fuels
1230
1,20
0,03
Furnishings, Household Equipment and Routine
Maintenance of the House
750
-0,08
0,02
Health
660
0,05
0,02
1516
0,52
0,25
Communication
439
-0,11
-0,01
Recreation and Culture
645
0,03
-0,01
Education
369
0,02
0,00
Restaurants and Hotels
838
0,07
0,03
Miscellaneous Goods and Services
877
-0,01
0,04
General Consumer Price Index
10000
1,96
0,25
Food and Non-Alcoholic Beverages
Transport
Note: Totals are calculated on the basis of the effects of the categories with infinite decimal figures and rounded
up to two decimals when published. Figures may not add to totals due to rounding error.
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Table 4
Effect (units)
Goods/Services
Apr17/Apr16
Positive effect
Electricity
0,94
Petroleum products
0,47
Vegetables
0,43
Airtickets
0,19
Other goods and services
0,08
Negative effect
Clothing
-0,15
TOTAL
1,96
Table 5
Effect (units)
Goods/Services
Apr17/Mar17
Positive effect
Airtickets
0,25
Clothing
0,16
Negative effect
Meat
-0,10
Other goods and services
-0,06
TOTAL
0,25
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METHODOLOGICAL NOTES
Definitions
The Consumer Price Index (CPI) is compiled to measure the changes of prices over time of
consumer goods and services acquired, used or paid by households. Specifically, the national CPI of
Cyprus covers the consumption expenses of specific goods and services (shopping basket of goods and
services), of the resident households and of the households that intend to live in Cyprus for at least
one year. CPI is the official index for the estimation of inflation.
The Inflation shows the change of the CPI when compared with the index of the corresponding month
of the previous year.
The Effect represents the amount of the overall change in the General Index which is accounted for by
any given category.
Collection
The price collection is carried out only in urban districts of Nicosia, Larnaca, Limassol and Paphos. For
each city, the fluctuations in the product prices each month, are weighted according to their population.
Specifically, the weights for the four districts are: Nicosia 42%, Limassol 30%, Larnaca 18% and
Paphos 10%.
The prices of 850 goods and services are recorded once every month, except for some seasonal
products (e.g vegetables and fruits), meat and fuels, whose prices are collected every week (every
Thursday).
Base year
The index reference period was 2005=100 for the period between February 2006 and December 2015.
From February 2016 and onwards, the base year is 2015=100.
Classification
Until December 2015, COICOP 4 classification was used for the calculation and the dissemination of the
CPI. From February 2016 and onwards, CYSTAT is adopting the ECOICOP classification satisfying
relevant Eurostat’s Regulation. In other words, the lowest level of detail for the classification used in
CPI is COICOP 5-digits.
Further information
Constandia Papageorgiou: Tel: +35722602116, Email:[email protected]
Andri Eftychiou: Τel: +35725878595, Email:[email protected]
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