For the period January – March 2023, there was an increase of 6.5% compared to the corresponding period last year.
The biggest change occurred in the Energy category.
The Harmonized Index of Consumer Prices in March 2023 compared to March 2022 is recorded at 6.1%, while compared to the previous month it increased by 1.3%. For the period January – March 2023, there was an increase of 6.5% compared to the corresponding period last year. Compared to March 2022, the categories Housing, Water, Electricity and LPG (15.5%) and Restaurants and Hotels (9.1%) showed the biggest changes.
In relation to February 2023, the largest change was recorded in the Clothing and Footwear category (9.7%). For the period January – March 2023 compared to the corresponding period last year, the largest changes were observed in the categories Housing, Water Supply, Electricity and LPG (17.4%) and Food and Non-Alcoholic Beverages (9.0%). The biggest change in economic categories compared to March 2022 was observed in the Energy category with a rate of 10.3%. Compared to the previous month, the category Non-energy industrial products (3.2%) saw the biggest change.
It is noted that this is a slowdown of the inflationary trends of the last months, while according to Eurostat data the annual inflation rate in Cyprus is the 6th lowest in the EU.