Consumer prices in Cyprus slumped 1.2 percent year-on-year in April of 2020 after increasing 0.7 percent in the previous month. It was the steepest decline in consumer prices since November of 2016, as coronavirus lockdown hit demand. Lower prices were recorded for food & non-alcoholic beverages (-1.3 percent vs 0.4 percent in March); transport (-7.5 percent vs -0.5 percent); housing & utilities (-0.2 percent vs 3.7 percent); clothing & footwear (-2.8 percent vs -0.9 percent); furnishings (-0.1 percent vs -0.4 percent) and alcoholic beverages & tobacco (-0.4 percent vs 0.2 percent). Also, inflation slowed for restaurants & hotels (1.4 percent vs 1.5 percent) and communication (3.4 percent vs 4.1 percent). On a monthly basis, consumer prices went down 1.5 percent, following a 0.1 percent increase in the previous month.

Inflation Rate in Cyprus averaged 3.72 percent from 1951 until 2020, 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. This page provides the latest reported value for - Cyprus Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Cyprus Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020.

Inflation Rate in Cyprus is expected to be 1.40 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 1.60 in 12 months time. In the long-term, the Cyprus Inflation Rate is projected to trend around 1.70 percent in 2021 and 1.80 percent in 2022, according to our econometric models.

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Cyprus Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
-1.20 0.70 18.75 -3.59 1951 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-02-06 10:00 AM Jan 1.1% 0.7% 0.6%
2020-03-05 10:15 AM Feb 1.4% 1.1% 1.3%
2020-04-02 09:00 AM Mar 0.7% 1.4% 1.4%
2020-05-07 09:15 AM Apr -1.2% 0.7% 0.3%
2020-06-04 09:00 AM May -1.2% 1.5%
2020-07-02 09:00 AM Jun 1.4%
2020-08-06 09:00 AM Jul
2020-09-03 09:00 AM Aug


News Stream
Cyprus Consumer Prices Fall the Most since 2016
Consumer prices in Cyprus slumped 1.2 percent year-on-year in April of 2020 after increasing 0.7 percent in the previous month. It was the steepest decline in consumer prices since November of 2016, as coronavirus lockdown hit demand. Lower prices were recorded for food & non-alcoholic beverages (-1.3 percent vs 0.4 percent in March); transport (-7.5 percent vs -0.5 percent); housing & utilities (-0.2 percent vs 3.7 percent); clothing & footwear (-2.8 percent vs -0.9 percent); furnishings (-0.1 percent vs -0.4 percent) and alcoholic beverages & tobacco (-0.4 percent vs 0.2 percent). Also, inflation slowed for restaurants & hotels (1.4 percent vs 1.5 percent) and communication (3.4 percent vs 4.1 percent). On a monthly basis, consumer prices went down 1.5 percent, following a 0.1 percent increase in the previous month.
2020-05-07
Cyprus Inflation Rate Eases to 0.7% in March
The annual inflation rate in Cyprus fell to 0.7 percent in March 2020 from 1.4 percent in the previous month. Prices slowed for food & non-alcoholic beverages (0.4 percent from 1.7 percent in February); restaurants & hotels (1.5 percent from 1.7 percent); and recreation & culture (0.2 percent from 0.3 percent). Also, cost of transport dropped (-0.5 percent from 4 percent) and prices fell further for miscellaneous goods & services (-0.4 percent from -0.1 percent); and furnishings (-0.4 percent from -0.2 percent). In contrast, cost of housing & utilities rose at a faster pace (3.7 percent from 3.4 percent); and prices of health rebounded (0.1 percent from -0.2 percent). On a monthly basis, consumer prices went up 0.1 percent, easing from a 0.4 percent gain in the prior month.
2020-04-02
Cyprus February Inflation Rate at Near 1-Year High of 1.4%
The annual inflation rate in Cyprus rose to 1.4 percent in February of 2020 from 1.1 percent in the previous month. This was the highest inflation rate since March of 2019, mainly pushed up by prices of food & non-alcoholic beverages (1.7 percent vs 0.9 percent in January); housing & utilities (3.4 percent vs 1.2 percent); communication (4.1 percent vs 3.3 percent); transport (4 percent vs 4.1 percent) and restaurants & hotels (1.7 percent vs 1.5 percent). In contrast, cost fell for miscellaneous goods & services (-0.1 percent vs -0.6 percent); clothing & footwear (-3.4 percent vs -2.2 percent); health (-0.2 percent, the same pace as in the prior month) and furnishings (-0.2 percent vs 0.3 percent). On a monthly basis, consumer prices went up 0.4 percent, following a 0.6 percent decrease in the previous month.
2020-03-05
Cyprus Inflation Rate Picks Up to 1.1% in January
Annual inflation rate in Cyprus increased to 1.1 percent in January 2020 from 0.7 percent in the previous month. Prices advanced faster for transport (4.1 percent from 1.2 percent in December); restaurant & hotels (1.5 percent from 1.2 percent); furniture & household equipment (0.3 percent from 0.2 percent) and communication (3.3 percent from 2.6 percent). In addition, cost rebounded for housing & utilities (1.2 percent from -0.3 percent) while inflation was steady for recreation & culture (at 0.2 percent) and education (at 1.7 percent). On the other hand, prices slowed for food & non-alcoholic beverages (0.9 percent from 1.8 percent); while cost fell for miscellaneous goods & services (-0.6 percent from 0.4 percent); clothing & footwear (-2.2 percent from -1 percent) and health (-0.2 percent from -0.3 percent). On a monthly basis, consumer prices went down 0.6 percent, following a 0.2 percent decrease in December.
2020-02-06

Cyprus Inflation Rate
In Cyprus, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (16.2 percent of total weight). Transport accounts for 15.2 percent; Housing and Utilities for 12.3 percent; Miscellaneous Goods and Services for 8.8 percent; Clothing and Footwear for 8.5 percent and Restaurants and Hotels for 8.4 percent. Furniture, Household Goods and Maintenance; Health; Recreation and Culture; Communication; Education and Alcoholic beverages and Tobacco account for the remaining 30.6 percent of total weight.