In December 2023, Cyprus saw a deceleration in Harmonized Inflation, reaching 1.9%, marking the lowest level since June 2021.
Compared to November 2023, the index showed a negative sign, recording a decrease of 1.2%.
According to the Statistical Service of Cyprus, the Harmonized Consumer Price Index in December 2023 increased by 1.9% compared to December 2022.
The most significant changes in economic categories, both compared to December 2022 and the previous month, were observed in the Energy category, with percentages of -4.2% and -4.3%, respectively.
Overall for 2023, the index recorded a 3.9% increase compared to the corresponding period last year.
Comparatively, the Restaurants and Hotels category (5.3%) showed the highest positive change compared to December 2022, while the Transport category exhibited the most substantial negative change (-4.2%).
Compared to November 2023, the largest variation was recorded in the Transport category (-3.1%).
For the period of January to December 2023, compared to the same period of the previous year, the most significant changes were observed in the categories of Food and Non-Alcoholic Beverages (8.0%) and Restaurants and Hotels (6.4%).