Inflation in January increased by 2.5% on an annual basis, marking a slight slowdown compared to the previous month when it stood at 2.6%.
According to the Cyprus Statistical Service, the Consumer Price Index (CPI) in January 2025 recorded a decrease of 1.58 points, reaching 116.73 units from 118.31 units in December 2024.
The most significant price fluctuations were seen in Agricultural Goods, which increased 10.0% compared to January 2024 but declined 6.1% compared to the previous month. Food and Non-Alcoholic Beverages saw a 4.8% annual rise, while Restaurants and Hotels recorded a 4.1% increase. On a monthly basis, the most notable drop was in Clothing and Footwear, which fell by 13.0%.
The categories with the highest positive impact on the annual CPI change were Food and Non-Alcoholic Beverages (+1.07) and Transport (+0.56). In contrast, Clothing and Footwear had the largest negative influence (-0.18). Compared to December 2024, the most significant downward pressure on the CPI came from Clothing and Footwear (-1.00).
Catering Services (+0.48), Fresh Vegetables (+0.36), and Meat (+0.24) contributed the most to the CPI increase over the year, while Clothing Items (-0.81) had the biggest downward effect. Among monthly fluctuations, Petroleum Products had the largest positive impact (+0.15), while Clothing Items had the biggest decline (-0.71).
( Source: CNA)
