Press Releases

Inflation 2,5%

The Consumer Price Index (CPI) in January 2025 decreased by 1,58 points, reaching 116,73 units compared to 118,31 units in December 2024. Inflation in January 2025 increased at a rate of 2,5%. (Table 1)

The largest change in economic categories compared to January 2024 and the previous month was recorded in Agricultural Goods, with percentages of 10,0% and -6,1%, respectively. (Table 2)

Analysis of Percentage Changes

Compared to January 2024, the largest changes were observed in the categories of Food and Non-Alcoholic Beverages (4,8%) and Restaurants and Hotels (4,1%). (Table 1)

In relation to December 2024, the most significant change was recorded in the category of Clothing and Footwear (-13,0%). (Table 1)

Analysis of Effects in Units

The largest positive impact on the change in the Consumer Price Index (CPI) of January 2025 compared to January 2024 was observed in the categories of Food and Non-Alcoholic Beverages (1,07) and Transport (0,56). (Table 3)

The largest negative impact on the change in the CPI of January 2025 compared to January 2024 was recorded in the category of Clothing and Footwear (-0,18). (Table 3)

The most significant impact on the change in the CPI compared to the previous month was in the category of Clothing and Footwear (-1,00). (Table 3)

The biggest positive impact on the change in the CPI of January 2025 compared to the index of January 2024 was observed in the categories of Catering Services (0,48), Fresh Vegetables (0,36), and Meat (0,24), while the most significant negative impact was recorded in the category of Clothing Items (-0,81). (Table 4)

Petroleum Products had the most significant positive impact on the change in the CPI of January 2025 compared to the corresponding index of the previous month (0,15), while the most significant negative impact was recorded in the category of Clothing Items (-0,71). (Table 5)

Methodological Information

Definitions

The Consumer Price Index (CPI) is compiled to measure the changes of prices over time of consumer goods and services acquired, used or paid by households. Specifically, the national CPI of Cyprus covers the consumption expenses of specific goods and services (shopping basket of goods and services), of the resident households and of the households that intend to live in Cyprus for at least one year. CPI is the official index for the estimation of inflation.

The Inflation shows the change of the CPI when compared with the index of the corresponding month of the previous year.

The Effect represents the amount of the overall change in the General Index which is accounted for by any given category.

Collection

The price collection is carried out only in urban districts of Lefkosia, Larnaka, Lemesos, and Pafos. For each city, the fluctuations in the product prices each month are weighted according to their population. Specifically, the weights for the four districts are: Lefkosia 42%, Lemesos 30%, Larnaka 18%, and Pafos 10%.

The prices of 805 goods and services are recorded once every month, except for some seasonal products (e.g. vegetables and fruit), meat and fuels, whose prices are collected every week (every Thursday).

Base Year

The index reference period was 2005=100 for the period between January 2006 and December 2015. From January 2016 and onwards, the base year is 2015=100.

Classification

Until December 2015, COICOP 4 classification was used for the calculation and the dissemination of the CPI. From January 2016 and onwards, CYSTAT is adopting the ECOICOP classification satisfying relevant Eurostat’s Regulation. In other words, the lowest level of detail for the classification used in CPI is COICOP 5-digits.

Products/Services and Weights

From January 2018 and onwards, the products included in the CPI as well as their corresponding weights have been revised. The revision was based on the results of the Household Budget Survey 2015/2016.

For more information, visit CYSTAT Portal, subtheme Price Indices, CYSTAT-DB (Online Database), Predefined Tables (Excel), Methodological Information or contact Mr Sofronis Vikis at 22602206 or via email at svikis@cystat.mof.gov.cy, or Mr Kyriakos Voutouris at 22605132 or via email at kvoutouris@cystat.mof.gov.cy or Mr Filippos Kakoutsis at 22605149 or via email at fkakoutsis@cystat.mof.gov.cy

The Predefined Tables, available in Excel format, are updated up to and including December 2021. More recent data are published only on the CYSTAT-DB Online Database.

(IA/GS)