The harmonized Index of Consumer Prices (HICP) rose by 3.6% between May 2022 and May 2023, according to data published by the Statistical Service on Friday.

Compared to May 2022, the largest changes were noted in Food and Non-Alcoholic Beverages which increased by 8.9%, Housing, Water, Electricity, Gas and Other Fuels, up 4.7% and Furnishings, Household Equipment and Routine Maintenance of the House increased by 4.6%.

As regards the economic origin, the largest changes when compared to the index of May 2022 were recorded in Food-Alcoholic Beverages-Tobacco, up 7.6% and Energy, that noted a decrease of 6.3%.

HICP went up by 0.4% in the month between April 2023 and May 2023. Compared to April 2023, the largest change was recorded in category Transport, that was down 2.6%. As regards the economic origin, the largest change was monitored in category Food-Alcoholic Beverages-Tobacco, up 1.5%.

According to the data, for the period January - May 2023 the HICP rose by 5.4% compared to the corresponding period of the previous year. The largest changes were noted in Housing, Water, Electricity, Gas and Other Fuels that recorded an increase of 12.1%, Food and Non-Alcoholic Beverages, up 8.6% and Restaurants and Hotels, up 7.5%.

Source: Cyprus News Agency