Group Financial Results H1 2016
Consumer prices continued to drop while on the demand side of the
economy, retail trade volumes continued to increase
Following three consecutive years of decline, consumer prices dropped by
2,2% in the first half of the current year ...
4,0
Consumer
3,0
2,0
1,0
0,0
-1,0
-2,0
-3,0
2,4
nsumer Price Index: % changes year-on-year
2,4
ili
2010
2011
2012
2013
-0,4
-1,4
-1,7
-2,1
-2,2
2014
2015
2016F
2016Jan-Jun
2016M03
2016M04
driven mainly by housing and transport expenditures which are energy
related, and by food.
Increase in the CPI by category in percentage points
0,07
0,15
-0,01
0,06
-0,24
-0,44
-1,11
-0,69
-0,94
-0,04
-0.05
-0,15
-0,22
-0,74
-0,89
-2,1
-2,2
-0,21
2016M05
2016M06
The volume index of retail trade peaked in Oct. 2008 on a 12 month basis
and dropped 15% by the first half of 2014
15
Volume of retail trade
10
-0,01
-0,18
2014
2015
1H2016
Food
Housing Furnishings Transport Education
Other
Regarding vehicle registration, after a 73% drop from their peak in late 2008
to early 2014, they started to rebound
130
60,0
9,6
Registration of motor vehicles
5
120
40,0
0
95,0
-5
02110
20,0
100
0,0
-10
91.3
ми
45
41,8
40
37,9
30.3
20, 35
85,0
90
-20,0
27,2
-15
80
-40,0
-20
01.12
03.12
05.12
07.12
10.12
11.12
01.13
03.13
05.13
20
07.13
09.13
11.13
0111
01.14
03. 14
03.14
05. 14
03.14
Oz 11
07.14
10 14
1100-2008 M10 of 12 month moving averages (RHS)
% change y-o-y
SOURCES: Statistical Service of Republic of Cyprus, European Commission, Bloomberg, IMF and company reports, Eurostat, Calculations by BOC Economic Research
11 14
01.15
03.15
05.15
07.15
10.15
11.15
01.16
03.16
05.16
70
-60,0
70
01.13
03.13
05.13
07.13
09.13
11.13
01.14
03.14
05.14
07.14
100=2008 M10 of 12 month moving averages (RHS)
% changes y-o-y
Bank of Cyprus
130
10.14
11.14
01.15
03.15
05.15
07.15
10.15
11.15
01.16
03.16
04.16
30
25
20
20
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