Significant year-on-year growth was seen in the Food and Soft Drinks categories.
Inflation rose by 2.5% year-on-year in January, but slowed down compared to the previous month when it rose to 2.6%.
According to Statistics Cyprus, the consumer price index (CPI) fell by 1.58 points to 116.73 points in January 2025 from 118.31 points in December 2024.
The largest changes in economic categories were recorded in agricultural products, with an increase of 10.0% year-on-year and a decrease of 6.1% compared to the previous month.
Significant year-on-year growth was seen in the Food & Non-Alcoholic Beverages (4.8%) and Restaurants – Hotels (4.1%) categories, while on a monthly basis, the largest decrease was recorded in the Clothing – Footwear category (-13.0%).
The categories “Food and non-alcoholic beverages” (1.07 points) and “Transportation” (0.56 points) had the greatest positive impact on the formation of CPI in annual terms. In contrast, the “Clothing & Footwear” category made the largest negative contribution (-0.18). On a month-to-month basis, the “Clothing & Footwear” category (-1.00) also accounted for the largest decrease in the index.
Notably, the Food Service, Fresh Vegetables and Meat sectors had the largest positive impact on annual inflation, while the Apparel sector had the largest negative impact. On a monthly basis, petroleum products had the largest positive impact.
Source: KYPS
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