Inflation drops to 7.2% in December but food prices rise 15,5%

The CPI in December 2022 compared with December 2021, increased by 7.2%. In December 2021, the annual rate of change of the CPI was 5.1%. The CPI in December 2022 compared with November 2022, decreased by 0.5%. In December 2021, the monthly rate of change of the CPI was 0.7%.

The average CPI for the twelve - month period from January 2022 to December 2022, compared with the corresponding index for the period January 2021 to December 2021 increased by 9.6%. The annual rate of change of the average CPI between the twelve - month period January 2021 to December 2021 in comparison to the period January 2020 to December 2020 was 1.2%.

The 0.5% decrease of the Overall CPI in December 2022, compared with the corresponding index in November 2022 is, mainly, due to the changes in the groups of goods and services as follows:

1. A decrease of:

• 0.9% in the group Alcoholic beverages and tobacco, due to the decrease, mainly, in the prices of alcoholic beverages.
• 1.4% in the group Housing, due to the decrease, mainly, in the prices of: natural gas, heating oil. This decrease was partly offset by the increase, mainly, in the prices of: rentals for dwellings, electricity.
• 4.6% in the group Transport, due to the decrease, mainly, in the prices of: new motor cars, fuels and lubricants, tickets for passenger transport by air. This decrease was partly offset by the increase, mainly, in the prices of second hand motor cars.
• 0.4% in the group Hotel-Cafés-Restaurants, due to the decrease, mainly, in the prices of hotels-motels-inns.

2. An increase of:

• 0.4% in the group Food and non-alcoholic beverages, due to the increase, mainly, in the prices of: bread, beef, pork, fresh fish, cheese, olive oil, preserved or processed vegetables. This increase was partly offset by the decrease, mainly, in the prices of:
• fresh fruit, fresh vegetables.
• 4.8% in the group Clothing and footwear, due to the increase in the prices of clothing and footwear.
• 0.4% in the group Household equipment, due to the increase, mainly, in the prices of household appliances and repair.

The 7.2% increase of the Overall CPI in December 2022, compared with the corresponding index in December 2021 is, mainly, due
to the changes in the groups of goods and services as follows:

1. An increase of:

• 15.5% in the group Food and non-alcoholic beverages due to the increase, mainly, in the prices of: bread and cereals, meat, fish, milk-cheese and eggs, oils and fats, fruit, vegetables, sugar-chocolates-sweets-ice creams, food n.e.c., coffee-cocoa-tea, mineral water-refreshments-fruit juices.
• 2.5% in the group Alcoholic beverages and tobacco, due to the increase, mainly, in the prices of alcoholic beverages.
• 5.4% in the group Clothing and footwear, due to the increase in the prices of clothing and footwear.
• 2.5% in the group Housing, due to the increase, mainly, in the prices of: rentals for dwellings, services for the repair and maintenance of the dwelling, co-proprietor charges, natural gas, heating oil, solid fuels. This increase was partly offset by the decrease, mainly, in the prices of electricity.
• 11.3% in the group Household equipment, due to the increase, mainly, in the prices of: furniture and furnishings, household
• appliances and repair, glassware-tableware and utensils of domestic use, non-durable household articles, domestic services.
• 2.8% in the group Health, due to the increase, mainly, in the prices of: pharmaceutical products, medical products, medicaldental and paramedical services, hospital care.
• 9.0% in the group Transport, due to the increase, mainly, in the prices of: new motor cars, second hand motor cars, motor cycles, spare parts and accessories for motor cars, fuels and lubricants, maintenance and repair of motor cars-motor cycles, passenger transport by taxi, tickets for passenger transport by air, tickets for passenger transport by sea.
• 3.2% in the group Recreation and culture, due to the increase, mainly, in the prices of: major durables for recreation and culture, small recreational items-flowers-pets, cinemas-theatres, stationary and drawing materials, package holidays. This increase was partly offset by the decrease, mainly, in the prices of audiovisual and information processing equipment.
• 2.2% in the group Education, due to the increase, mainly, in the prices of: fees of primary education, fees of secondary education.
• 7.6% in the group Hotel-Cafés-Restaurants, due to the increase, mainly, in the prices of: restaurants-confectioneries-cafesbuffets, hotels-motels-inns.
• 5.2% in the group Miscellaneous goods and services, due to the increase, mainly, in the prices of: hairdressing salons and personal grooming establishments, other appliances and articles for personal care.

2. A decrease of:

• 2.1% in the group Communication, due to the decrease, mainly, in the prices of telephone services.