Consumer prices in Cyprus increased 1.4 percent year-on-year in March of 2019, following an upwardly revised 1.3 percent gain in the previous month. Cost rose faster for housing & utilities (7.1 percent from 6.9 percent in February); miscellaneous goods & services (1.3 percent from 0.9 percent); clothing & footwear (1.9 percent from 0.7 percent) and recreation & culture (0.3 percent from 0.1 percent) while prices fell less for transport (-2.6 percent from -4.9 percent). Also, inflation was steady for education (at 1.9 percent). On the other hand, cost slowed for food and non-alcoholic beverages (3.6 percent from 5.3 percent) while prices dropped for furniture & household equipment (-0.1 percent from 0.4 percent); health (-0.1 percent from 0.1 percent) and for communication (-6.0, the same pace as in February). On a monthly basis, consumer prices went up 0.8 percent from a flat reading in February. Inflation Rate in Cyprus averaged 3.78 percent from 1951 until 2019, 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 2.10 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 2.00 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.