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ECONOMY

Inflation Increases by 2.5%

Inflation Increases by 2.5%

In August 2018, the Consumer Price Index increased by 0.66 units to 100.98 units compared to 100.32 units in July 2018. Compared to August 2017, the CPI is increased by 2.5% while for the period January - August 2018, the CPI is increased by 0.9% compared to the corresponding period of the previous year.

In the twelve-month period from September 2017 to August 2018, in comparison to the period from September 2016 to August 2017, the annual average rate of change of the CPI was 0.5%. The corresponding rate in the previous twelve month period was 0.3%.

As regards the economic origin, the largest changes when compared to the index of August 2017, were recorded in Electricity and Petroleum products with increase of 13,1% and 12,9% respectively. In comparison to the index of the previous month an increase of 6,6% was observed in Agricultural Goods.

Compared to August 2017, the categories Transport and Housing, Water, Electricity, Gas and Other Fuels recorded the largest positive change with a percentage of 6.5%.

In comparison to the CPI of July 2018, the largest positive change was noted in Food and Non-Alcoholic Beverages (2.3%).

For the period January-August 2018, compared to the corresponding period of the previous year, the largest positive change was noted in Transport (4.4%), while a decrease was recorded in Alcoholic Beverages and Tobacco (-1.7%).

The category with the largest effect on the change of the CPI of August 2018 compared to the previous month, was the Food and Non-Alcoholic Beverages (0.45).

The products/services with the most notable effect on the change of the CPI of August 2018 compared to the previous month were the following: vegetables (0.33) and airfares (0.14).

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