The annual inflation rate in Cyprus decreased to 3.0 percent in October 2018 from 3.1 percent in the prior month. Prices rose less mainly for food & non-alcoholic beverages (2.9 percent vs 3.6 percent in September) and clothing & footwear (0.01 percent vs 1.37 percent). Inflation also slowed for restaurants & hotels (2.3 percent vs 2.4 percent) and education (3.0 percent vs 3.3 percent). Meantime, cost advanced at the same pace for transport (6.5 percent), housing & utilities (11.1 percent) and recreation & culture (1.2 percent). In contrast, prices increased faster for miscellaneous goods & services (1.4 percent vs 0.8 percent). On a monthly basis, consumer prices were up 0.4 percent, after increasing 0.9 percent in September. Inflation Rate in Cyprus averaged 3.79 percent from 1951 until 2018, reaching an all time high of 18.75 percent in July of 1951 and a record low of -3.59 percent in October of 1961.
Inflation Rate in Cyprus is expected to be 1.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Cyprus to stand at 2.30 in 12 months time. In the long-term, the Cyprus Inflation Rate is projected to trend around 2.50 percent in 2020, according to our econometric models.