|Unit||Index 2015=100, NSA|
|Adjustments||Not Seasonally Adjusted|
|Source||Statistical Service of the Republic of Cyprus (CYSTAT)|
|Release||Consumer price index (CPI)|
For Cyprus, a detailed consumer price index (CPI) and Eurostat-type harmonized CPI (headline and 12 COICOP categories), and CPI by economic origin.
A consumer price index (CPI) is a measure of the average price of a fixed basket consumer goods and services purchased by households. It is one of several price indices calculated by national statistical agencies. The percent change in the CPI is a measure of inflation. The CPI can be used to index (i.e., adjust for the effects of inflation) wages, salaries, pensions, or regulated or contracted prices.
The CPI is a Laspeyres-type price index rather than a cost of living index.
The harmonized (harmonised) index of consumer prices (HICP) is produced for comparability across the EU.
Population coverage: Resident households and households that intend to live in Cyprus for at least one year.
Geographical coverage: Prices of goods and services in Nicosia, Larnaca, Limassol and Paphos. Prices are weighted by population.
Price coverage: Those actually paid by consumers for the purchase of specific goods and services, including the Value Added Tax and excise duties. Included are end-of-season sales prices and special offer prices available to the general public with no restrictions.
Product classification: COICOP. As of 2016, ECOICOP, which is identical at the upper four levels.
Weights of the HICP: Until 2011, based mainly on the Household Budget Survey. From 2012, based on National Accounts, per Eurostat regulation 1114/2010.
Weights of CPI by economic origin: Changed between the 1998 and 2005 bases, but not for the 2015 base.
The CPI dataset is monthly. The headline CPI is followed by the CPI-H (about 5-12 days), and by the "CPI by economic origin" (5-8 days).
For both CPI and CPI-H, we extend the general index using its predecessors. We seasonally adjust using the U.S. Census Bureau's X-13 ARIMA program.
As of January 2016, the index base period changed from 2005 to 2015. CYSTAT does not publish past history under the new base.