The Harmonized Index of Consumer Prices (HICP) in Cyprus rose by 3,9% between April 2022 and April 2023, and by 0,9% in the month between March 2023 and April 2023.
The HICP is an economic indicator constructed to measure the changes of prices over time of consumer goods and services
For the period January – April 2023 the HICP rose by 5,9% compared to the corresponding period of the previous year. (Table 1)
Compared to April 2022, the largest changes were noted in Food and Non-Alcoholic Beverages (6,9%), Furnishings, Household Equipment and Routine Maintenance of the House (6,7%)and Restaurants and Hotels (6,5%).
Compared to March 2023, the largest change was recorded in category Clothing and Footwear (4,2%).
For the period January – April 2023, compared to the corresponding period of the previous year, the largest changes were noted in Housing, Water, Electricity, Gas and Other Fuels (14,0%), Food and Non-Alcoholic Beverages (8,5%) and Restaurants and Hotels (8,2%).
As regards the economic origin, the largest changes when compared to the index of April 2022 were recorded in Food and Non-Alcoholic Beverages (5,8%) and Non-energy industrial goods (5,7%). When compared to the index of the previous month, the largest change was monitored in category Energy (-2,9%).
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