Cyprus electricity prices rise highest in 2012

You already knew it from your electricity bills, but the fastest pace of increase for prices in 2012 was for the category of housing, water, electricity and gas.
Prices in this category rose by 11.3% in 2012, having already risen by 10.4% in 2011.
In the second half of 2011, the near-monopoly Electricity Authority of Cyprus slapped a surcharge on electricity bills to pay for the major power station that was destroyed.
The only category that saw an actual cut in prices in 2012 was clothing and footwear. These generally low budget items have been hit by rising unemployment and a squeeze on credit.
Overall inflation in 2012 rose by 2.4%, from 3.3% in 2011.
Overall inflation would have been higher had it not been for the deflationary effect of imported goods (excluding fuel), which fell by 0.6%.
Prices of local goods, on the other hand, continued to rise above average, increasing by 6.7%. High inflation of local produce suggests that competition in the local market is still weak. However, this coming year of austerity may see things change a little.
www.sapientaeconomics.com