Eurostat HICP Inflation – Cyprus HICP Inflation January statistics

Harmonised Index of Consumer Prices

(year-on-year)

January    2021            +0.9%                -0.8%

December 2020            -0.3%                 – 0.8%

November 2020            -0.3%                 -1.1%

October     2020            -0.3%                 -1.4%

September 2020           -0.3%                 -1.9%

August       2020           – 0.2%                 -2.9%

July            2020             -0.3%                -2.0%

June          2020             -0.3%                -0.8%

May           2020             -0.3%                -1.1%

April          2020             -0.3%                 -0.2%

March       2020             -0.3%                 -0.1%

February  2020              -0.3%                 +1.0%

January 2020               +1.4%                 +0.7%

December 2019

November 2019

October  2019

September 2019

August 2019

July 2019

June 2019

May 2019

April 2019

March   2019

February  2019

January 2019

Cystat

“HICP aims to cover the final consumption expenditure of all types of households in order to provide a timely and clear view of inflation.

Conceptually, HICP is more a ‘Laspeyres-type price index’ rather than a ‘cost of living index’. Consequently, HICP is not of the same meaning as the cost of living. In general, HICP only measures the change in the prices of a given (fixed) cost model. The cost of living is of a wider significance since is not only influenced by prices but also by the quantities that are bought-consumed and by the luxuries/needs of the households.

The geographical coverage of the HICP covers the prices of goods and services in 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 per cent, Limassol 30 per cent, Larnaca 18 per cent and Paphos 10 per cent.

The population coverage of the HICP includes expenditure on both households that reside in Cyprus or are going to live in Cyprus for at least one year and the tourists.

The prices measured are those actually paid by consumers for the purchase of specific goods and services, and they include various taxes, such as the Value Added Tax and excise duties. For the calculation of the Index end-of-season sales prices are taken into account as well as special offer prices which are available for the general public and have no restrictions.

The HICP does not include interest expenses and other credit charges, since they are not considered as consumer expenditures.”