Cyprus & World News

CYPRUS: HICP hits 4-year high on electricity prices

12 April, 2017

The Harmonised Index of Consumer Prices (HICP) rose by 1.5% in March, a four-year high, according to data released by the Statistical Service.

HICP was pushed upward mainly by higher electricity prices which were up 17.1% with the categories of housing, water, electricity, gas and other fuels and food and non-alcoholic beverages, registering the highest increase with 10.2% and 4.8%, respectively.
Compared with February 2016, HICP accelerated by 0.9% mainly driven by clothing and footwear that rose by 10.1%.
For the January-March period, HICP increased by 1.3% year on year driven by housing, water, electricity, gas and other fuels that rose by 6.8%. Transport increased by 3% while food and non-alcoholic beverages rose by 2.6%.