The products and services in the Cypriot market were cheaper by 1,4% for the whole of 2016.
According to data released by the Statistical Service, the Consumer Price Index for the period January-December last year, decreased by 1,4 percentage points. At the same time, consumers put their hands a little deeper in their pockets in December, as the price index increased by 0,6% compared to November, while compared to December 2015, prices fell by 0,3 %.
The year 2016 was cheaper by 1,4% compared to 2015, which in turn was cheaper by 2,1% compared to 2014.
The biggest change compared to December 2015, was recorded by electricity, with an increase that reached 4,1%, while compared to November 2016, agricultural products recorded a significant increase of 5,7%.
Compared to December 2015, last December was cheaper by 3,3% in clothes and shoes, by 2,1% in furniture, household equipment and cleaning products, while more expensive by 1,8% were the products in the category that concerns housing, water supply, electricity and LPG, as well as health services by 1,8%.
Compared to November 2016 and due to the seasonality that required higher consumption of household table-related items during the holiday season, food and non-alcoholic beverages for December were 2,1% more expensive, while Prices of cigarettes and alcoholic beverages decreased by 2,5%.
Source: SigmaLive