Consumer prices in Cyprus rose 2.4 percent year-on-year in May of 2021, after a 1.6 percent increase in the previous month. It was the highest reading since November of 2018, as inflation quickened sharply for both transport (13.1 percent vs 8.3 percent in April) and housing & utilities (4.4 percent vs 2.6 percent). Meantime, food deflation accelerated (-1.8 percent vs -0.8 percent) partially counteracting the strength of the previous variations. In addition, it is also worth noting that prices rebounded for restaurants & hotels (0.4 percent vs -0.4 percent) and continued rising for clothing & footwear (3.2 percent vs 3.9 percent). On a monthly basis, consumer prices rose 0.6 percent, easing from a 0.8 percent jump in the prior month. source: Statistical Service of the Republic of Cyprus

Inflation Rate in Cyprus averaged 3.65 percent from 1951 until 2021, 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 2021.

Inflation Rate in Cyprus is expected to be 2.60 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 1.00 in 12 months time. In the long-term, the Cyprus Inflation Rate is projected to trend around 1.10 percent in 2022 and 1.30 percent in 2023, according to our econometric models.

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Cyprus Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.40 1.60 18.75 -3.59 1951 - 2021 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-03-04 10:15 AM Feb -1.9% -1.6% -1.3%
2021-04-05 09:20 AM Mar -0.7% -1.9% -1.7%
2021-05-06 09:15 AM Apr 1.6% -0.7% 0.6%
2021-06-03 09:00 AM May 2.4% 1.6% 2.2%
2021-07-02 09:00 AM Jun 2.4%
2021-08-06 09:00 AM Jul
2021-09-03 09:00 AM Aug
2021-10-05 09:00 AM Sep


News Stream
Cyprus Consumer Prices Grow at 2-1/2-Year High
Consumer prices in Cyprus rose 2.4 percent year-on-year in May of 2021, after a 1.6 percent increase in the previous month. It was the highest reading since November of 2018, as inflation quickened sharply for both transport (13.1 percent vs 8.3 percent in April) and housing & utilities (4.4 percent vs 2.6 percent). Meantime, food deflation accelerated (-1.8 percent vs -0.8 percent) partially counteracting the strength of the previous variations. In addition, it is also worth noting that prices rebounded for restaurants & hotels (0.4 percent vs -0.4 percent) and continued rising for clothing & footwear (3.2 percent vs 3.9 percent). On a monthly basis, consumer prices rose 0.6 percent, easing from a 0.8 percent jump in the prior month.
2021-06-03
Cyprus Consumer Prices Rebound in April
Consumer prices in Cyprus jumped by 1.6 percent year-on-year in April of 2021, after a 0.7 percent fall in the previous month. This increase broke with 12 straight months of price declines, as inflation soared for transports (8.32 percent vs 2.20 percent in March) and prices rebounded significantly for housing & utilities (2.61 percent -4.68 percent). In addition, food deflation slowed (-0.82 percent vs -2.17 percent), while the prices of clothing & footwear returned to rise (3.86 percent vs -0.41 percent). On a monthly basis, consumer prices rose 0.8 percent, easing from 1.3 percent climb in the prior month.
2021-05-06
Cyprus Consumer Prices Fall for 12th Month
Consumer prices in Cyprus went down 0.7 percent year-on-year in March 2021, following a 1.9 percent fall in the previous month. It is the softest decline since November of 2020, with main downward pressure from housing and utilities (-4.7 percent), food and non-alcoholic beverages (-2.2 percent), and communication (-3.9 percent). On the other hand, prices increased for transports (2.2 percent), and recreation and culture (2.1 percent). On a monthly basis, consumer prices rose 1.3 percent, after edging higher 0.1 percent in February.
2021-04-05
Cyprus CPI Falls for 11th Month
Consumer prices in Cyprus went down 1.9 percent year-on-year in February 2021, following a 1.6 percent fall in the previous month. It is the biggest decline since June of 2020, mainly due to housing and utilities (-4.7 percent), namely electricity (-14.3 percent) and food and non-alcoholic beverages (-4.4 percent). On the other hand, transport prices recorded the biggest increase (1 percent). On a monthly basis, consumer prices went up 0.11 percent, after decreasing 1.1 percent in the previous month.
2021-03-04

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.