CyStat: Consumer Price Index for July 2016 is Reduced By 0.2%

22:00 - 05 Αυγούστου 2016

  The Consumer Price Index for July 2016, increased by 0,19 units to 98,71 units compared to 98,52 units in June 2016, according to the figures released by the Statistical Service of Cyprus on August 4. When compared to July 2015, CPI is reduced by 0.2% while for the period between January and July 2016, CPI is also decreased by 1.9% compared to the corresponding period of the previous year.

In the twelve-month period from August 2015 to July 2016, in comparison to the period from August 2014 to July 2015, the annual average rate of change of the CPI was -2.0%. The corresponding annual average rate of change of the CPI in the previous year was -1.5%.

As regards to the economic origin, the largest change when compared both to the index of July 2015 and to the index of June 2016, was observed in agricultural goods. Particularly, when compared to July 2015 an increase of 26.2% was recorded and in relation to the index of the previous month, an increase of 15,0% was observed.

Compared to July 2015, the categories with the biggest negative changes were the following: transport (-6.6%) and housing, water, electricity, gas and other fuels (-6.3%), whereas the category with the greatest increase was the food and non-alcoholic beverages (10.1%).

In comparison to the CPI of June 2016, the category with largest increase was the food and non-alcoholic beverages (6.9%) while the biggest negative change was observed in clothing and footwear (-13.6%).

For the period between January-July 2016, compared to the corresponding period of the previous year, the largest negative changes were noted in: housing, water, electricity, gas and other fuels (-7.4%) and transport (-6.0%). On the other hand, the greatest positive change was recorded in clothing and footwear (1.7%).

The categories with the largest negative effect on the change of the CPI of July 2016 when compared to July 2015 were the following: transport (-1.04%) and housing, water, electricity, gas and other fuels (-0.78%). The category with the greatest positive effect was the food and non-alcoholic beverages (1.55%).

 The category with the largest positive effect on the change of the CPI compared to the previous month, was the food and non-alcoholic beverages (1.09%), while the largest negative effect was observed in clothing and footwear (-1%21).

The following products/services had the most notable negative effect on the change of the CPI of July 2016 compared to the Index of July 2015: petroleum products (-0.66%), electricity (-0.63%) and air tickets (-0.49%), while vegetables (0.78%) and fruits (0.75%) had the largest positive effect.

Finally, the products with the most positive effect on the change of the CPI of July 2016 compared to the index of the previous month were the fruits (0.46%) and vegetables (0.44%), while clothing (-0.91%) and footwear (-0.30%) had negative effect.

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