The downward trend of inflation in Cyprus continued in January 2021, according to data released by the Statistical Service of Cyprus on Thursday. The Consumer Price Index in January 2021 decreased by 1.06 points and reached 99.21 points compared to 100.27 points in December 2020. Compared to January 2020, the CPI decreased by 1.6%.
The largest changes in the economic categories compared to January 2020, were recorded in Electricity and Agricultural Products with percentages of -12.9% and -11.2% respectively. Compared to the previous month, the category Agricultural Products showed the largest change with a percentage of -5.0%.
Analysis of percentage changes
Compared to January 2020, the largest negative changes were observed in the categories Housing, Water Supply, Electricity and LPG (-4.6%) and Food and Non-Alcoholic Beverages (-4.6%), while a positive change was in the category Clothing and Footwear (5.0%).
Compared to December 2020, the largest change was recorded in the Clothing and Footwear category (-13.3%).
Impact analysis in units
The biggest negative effect on the change of the CPI of January 2021 compared to January 2020 had the categories Food and Non-Alcoholic Beverages (-0.91) and Housing, Water, Electricity and LPG (-0.58), while a positive effect had the category Clothing and Footwear (0.31).
The biggest impact on the change of the CPI compared to the previous month was the category Clothing and Footwear (-1.01).
The largest impact on the change in the CPI of January 2021 compared to the index of January 2020 had petroleum products (-0.85) and fresh vegetables (-0.72).
Finally, clothing (-0.62) had the largest impact on the change in the CPI of January 2021 compared to the corresponding index of the previous month.
Philenews / ΚΥΠΕ
