ECONOMY

Cyprus’ July CPI rises 4.04% y-o-y

cyprus-july-cpi-rises-4-04-y-o-y

In July, prices in Cyprus rose for the fourth month in a row, as the consumer price index rose 4.04% year-on-year, following a 3.14% increase in June.

Transport prices grew 10.12% annually in July.

Annual prices for housing, water, electricity, gas and other fuels had the largest gains at 12.72%, and those for communication rose 1.65%.

Prices for recreation, culture, and restaurants and hotels rose by 1.02% and 1.50%, respectively.

The consumer price index rose 0.11% to 102.50 units in July from 102.39 the previous month.

For the seven months to July, the CPI increased by 1% compared to the same period last year.

Compared to the CPI of the previous month, the largest change was noted in clothing and footwear (-12.4%).

For January-July 2021, the largest annual increase was recorded in transport (5.4%), whereas the largest fall was in communication (-2.3%).

According to the Statistical Service, compared to the index of July 2020, the categories transport (1.45%) and housing, water, electricity, gas and other fuels (1.44%) had the largest effect on the change of the CPI.

The category clothing and footwear (-0.93%) had the largest effect on the CPI change compared to the previous month. [Financial Mirror]