July in­fla­tion -0.2% y-o-y, -1.9% Jan-July

Financial Mirror (Cyprus) - - FRONT PAGE -

The Con­sumer Price Index for July in­creased by 0.19 units to 98.71 from 98.52 units in June. 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%.

The largest change in the index from July 2015 to June 2016, was 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 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 the largest in­crease was the food and non-al­co­holic bev­er­ages (6.9%), while the big­gest neg­a­tive change was in cloth­ing and footwear (-13.6%).

For the Jan­uary-July pe­riod, com­pared to the cor­re­spond­ing pe­riod of the pre­vi­ous year, the largest neg­a­tive changes were in: hous­ing, water, elec­tric­ity, gas and other fu­els (-7.4%) and transport (-6.0%). On the other hand, the great­est pos­i­tive change was 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: transport (-1.04) and hous­ing, water, elec­tric­ity, gas and other fu­els (-0.78). The cat­e­gory with the great­est pos­i­tive ef­fect was the food and non­al­co­holic 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 non­al­co­holic 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 air­line 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 fruits (0.46) and veg­eta­bles (0.44), while cloth­ing (-0.91) and footwear (-0.30) had a neg­a­tive ef­fect.

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