Inflation in Cyprus

Cyprus Inflation | Economic News & Forecasts

Cyprus - Inflation

Inflation comes in at highest level since our records began in July

Consumer prices rose by 1.24% in July, picking up from the 0.78% increase recorded in June. Looking at the details of the release, housing and utilities prices rose at a quicker pace in July compared to the previous month, while price pressures for transportation eased but remained elevated.

Inflation rose to 10.9% in July, following June’s 9.6%. July's reading marked a multi-decade high. Meanwhile, the trend pointed up, with annual average inflation coming in at 6.7% in July (June: 6.1%). Finally, harmonized inflation rose to 10.6% in July, from June’s 9.0%.

FocusEconomics panelists project harmonized inflation to average 7.1% in 2022, which is up 1.2 percentage points from last month’s forecast, and 2.9% in 2023.

Cyprus - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)-2.1  -1.4  0.5  1.4  0.3  

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Cyprus Inflation Chart


Cyprus Inflation
Note: Annual variation of consumer price index (HICP) in %.
Source: National Statistical Service and FocusEconomics calculations.

Cyprus Facts

Value Change Date
Exchange Rate1.120.65 %Dec 31

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