The annual inflation rate in Cyprus fell to 2.7 percent in November 2018 from 3.0 percent in the previous month. It is the lowest inflation rate since August, as prices slowed mostly for transport (4.6 percent vs 6.5 percent in October) and miscellaneous goods & services (0.7 percent vs 1.4 percent). Also, inflation was steady for food & non-alcoholic beverages (2.9 percent) and education (3.0 percent). On the other hand, cost advanced faster for housing & utilities (11.8 percent vs 11.1 percent), mainly due to electricity (33.8 percent vs 31.2 percent); restaurants & hotels (2.4 percent vs 2.3 percent) and recreation & culture (1.4 percent vs 1.2 percent). On a monthly basis, consumer prices dropped 0.2 percent, after increasing 0.4 percent in the previous month. 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 3.20 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.