Annual Change 0.4%
The Harmonised Index of Consumer Prices (HICP) in May 2025 increased by 0.4% compared to May 2024 and 0.2% compared to April 2025 (Table 1).
Note: The euro area HICP for the last month is based on a EUROSTAT (flash estimate).
Compared to May 2024, the categories Leisure and Culture (7.7%) and Restaurants and Hotels (5.2%) had the largest positive change, while the Transport category (-6.5%) showed the largest decline (Table 1).
Compared to April 2025, the largest changes were observed in the categories Transport (-4.4%) and Clothing and Footwear (2.6%) (Table 1).
For the period January-May 2025, compared to the corresponding period of the previous year, the largest changes were recorded in the categories Leisure and Culture (7.3%), Clothing and Footwear (-5.5%) and Restaurants and Hotels (5.3%) (Table 1).
The largest change in the economic categories both in relation to May 2024 and in relation to April 2025 was recorded in the Energy category (-11.4% and -1.7% respectively)(Table 2).
| Table 1 | ||||||
| Categories of Goods and Services | HICP (2015=100) | Changes (%) | ||||
| April 2025 | May 2025 | May 25/May 24 | May 25/Apr 25 | Jan-May 25/Jan-May 24 | ||
| Food Non-Alcoholic Beverages | 125,96 | 127,54 | 2,4 | 1,3 | 3,2 | |
| Alcoholic Beverages and Tobacco |
101,68 | 101,86 | -0,2 | 0,2 | 0,3 | |
| Clothing Footwear | 99,49 | 102,08 | -5,1 | 2,6 | -5,5 | |
| Housing, Water Supply, Electricity and LPG |
139,87 | 140,25 | -2,9 | 0,3 | 0,3 | |
| Furniture, Home Appliances Cleaning Products | 103,31 | 103,81 | -0,6 | 0,5 | -0,6 | |
| Health | 107,78 | 107,85 | 1,4 | 0,1 | 1,5 | |
| Transport | 112,97 | 108,05 | -6,5 | -4,4 | -0,3 | |
| Communications | 88,41 | 87,81 | -3,3 | -0,7 | -2,2 | |
| Leisure and Culture | 122,82 | 123,45 | 7,7 | 0,5 | 7,3 | |
| Education | 114,59 | 114,59 | 3,7 | 0,0 | 3,7 | |
| Restaurants Hotels | 127,88 | 130,51 | 5,2 | 2,1 | 5,3 | |
| Other Goods and Services | 112,05 | 112,28 | 0,4 | 0,2 | 0,7 | |
| General HICP | 117,68 | 117,95 | 0,4 | 0,2 | 1,8 | |
| Table 2 | |||
| Financial Categories | Weighting | Changes (%) | |
| May 25/May 24 | May 25/Apr 25 | ||
| General HICP | 1000 | 0,4 | 0,2 |
| Energy | 96,25 | -11,4 | -1,7 |
| Food-Alcoholic Beverages-Tobacco | 223,95 | 1,7 | 1,0 |
| Non-Energy Industrial Products | 229,71 | -2,4 | 0,7 |
| Services | 450,09 | 3,9 | 0,0 |
| Note: The individual weightings are calculated with infinite decimal places and are published by rounding two decimal places. The difference in the sum is due to a rounding error. | |||
Methodological Information
Definitions
The Harmonised Index of Consumer Prices (HICP) is an economic indicator compiled to measure the changes over time in the prices of consumer goods and services acquired, used or paid for by households and tourists within the economic territory of the country. The HICP is calculated according to a harmonised approach and methodology as defined by the European Union (EU) with a number of relevant Regulations.
The Annual change shows the change in the HICP compared to the corresponding month of the previous year.
Products/Services
With effect from January 2018, the products contained in the HICP have been revised. The revision was based on the results of the 2015/2016 Family Budget Survey. More information is available on the website of the Statistical Service in the “Methodology” section, in the statistical sub-topic “Economy/ Price Indices/ Harmonized Index of Consumer Prices”.
Pricing
Pricing is carried out only in the urban areas of the districts of Nicosia, Larnaca, Limassol and Paphos. For each city, the fluctuations in prices per product each month are weighted according to the population. Specifically, the weighting coefficients for the four districts are the following: Nicosia 42%, Limassol 30%, Larnaca 18% and Paphos 10%,
The prices of 805 items (goods and services) are recorded once each month, except for some seasonal products (e.g. vegetables and fruits), meat and fuel, whose prices are collected weekly (every Thursday). Prices collected are the prices actually paid by consumers for the purchase of specific goods and services, including various taxes (VAT, excise duties). The prices of the sell-offs, as well as the prices of other offers, are also taken into account in the calculation of the Index, provided that they are generally valid and are not subject to conditions.
Species Weighting Coefficients
The HICP weightings of items (goods and services) are calculated on the basis of consumer expenditure (households and tourists) incurred in the country’s economic territory. Until 2011, the main source of consumer expenditure was the Family Budget Survey, while from 2012 onwards, based on an EU regulation, data from the National Accounts are mainly used.
Base Year
The base year from January 2006 to December 2015 was 2005=100. From January 2016 onwards, the reference year is 2015=100.
Classification
Until December 2015, the HICP was calculated and published on the basis of the classification COICOP4 up to four digits of analysis. From January 2016 onwards, the HICP is calculated and published on the basis of the ECOICOP classification, following a relevant EU regulation. Therefore, the lowest level of detail for the ECOICOP classification used in the HICP is the five digits of analysis.
As of February 2019, Statistics Cyprus publishes the HICP economic categories, as calculated from more detailed data.
For more information, interested parties can visit the Statistical Service Portal, subtopic Price Indices, CYSTAT-DB (Database), Methodological Information or contact Mr. Sofronis Vikis by phone at 22602206 or by e-mail at svikis@cystat.mof.gov.cy address, or with Mr. Kyriakos Voutouris by phone at 22605132 or by e-mail at kvoutouris@cystat.mof.gov.cy. or with Mr. Philippos Kakoutsis by phone at 22605149 or by e-mail at fkakoutsis@cystat.mof.gov.cy.
