Inflation in Cyprus rises to 8.8 per cent in April

In April 2022, inflation was 8.8 per cent in Cyprus, with the Consumer Price Index increasing by 2.58 units to 110.36 units, compared to 107.78 units in March 2022, according to data published by the Cyprus Statistical Service on Thursday.

For the period January-April 2022, the CPI increased by 7 per cent compared to the corresponding period of the previous year.

As regards the economic origin, the largest changes when compared to the index of April 2021 were recorded in Electricity (39 per cent), Petroleum Products (32 per cent) and in Agricultural Goods (18.3 per cent). In comparison to the index of the previous month, the largest change was monitored in Electricity (16.4 per cent).

Compared to April 2021, the largest changes were monitored in the categories of Housing, Water, Electricity, Gas and Other Fuels (21.1 per cent), Transport (18 per cent) and Food and Non-Alcoholic Beverages (11 per cent).

In comparison to the CPI of the previous month, the largest change was noted in Housing, Water, Electricity, Gas and Other Fuels (7 per cent).

For the period January – April 2022, compared to the corresponding period of the previous year, the largest changes were recorded in Housing, Water, Electricity, Gas and Other Fuels (16.3 per cent), Transport (15.1 per cent) and Food and non-Alcoholic Beverages (8 per cent).

Compared to the Index of April 2021, the categories Transport (2.71), Housing, Water, Electricity, Gas and Other Fuels (2.58) and Food and non-Alcoholic Beverages (2.09) had the largest effect on the change of the CPI.

The categories Housing, Water, Electricity, Gas and Other Fuels (0.97) and Transport (0.78) had the largest effect on the change of the CPI compared to the previous month.

Petroleum Products (2.54), Electricity (1.40) and Fresh Vegetables (0.70) had the most notable effect on the change of the CPI of April 2022 compared to April 2021.

Finally, Electricity (0.70) and Petroleum Products (0.61) had the largest positive effect on the change of the CPI in April 2022 compared to the previous month.