Cyprus Consumer Prices Drop for 7th Month

Consumer prices in Cyprus rose by 0.5% year-on-year in January 2026, marking a rebound after eight consecutive months of deflation and following a 0.5% decline in December 2025. The increase was mainly driven by higher prices for food (up 3.01% vs. -2.93%), furnishings (0.4% vs. -0.23%), recreation and culture (3.17% vs. 2.20%), and education (3.71% vs. 3.45%). Meanwhile, inflation eased for restaurants and hotels (4.79% vs. 4.92%), health (0.79% vs. 1.12%), and non-alcoholic beverages and tobacco (0.75% vs. 1.04%). In contrast, price growth turned negative for communication (-1.97% vs. 0.54%), while deflation persisted in transports (-2.45% vs. -0.85%) and eased for housing and utilities (-0.65% vs. -1.65%) as well as clothing and footwear (-7.02% vs. -7.93%). On a monthly basis, consumer prices fell by 0.3%, following a 0.13% increase in the previous month.

Consumer prices in Cyprus fell by 0.5% year-on-year in December 2025, unchanged from the previous month. It marked the eighth consecutive month of consumer deflation, as prices decreased at a faster pace for transport (-0.85% vs -0.68% in November), housing and utilities (-1.65% vs -1.17%), and clothing and footwear (-7.93% vs 7.61%). Moreover, cost moderated for health (1.12% vs 1.19%), communication (0.54% vs 0.59%), and restaurants and hotels (4.92% vs 4.98%). In contrast, deflation softened for food and non-alcoholic beverages (-2.93% vs -3.09%) and furnishings, household equipment, and routine maintenance of the house (-0.23% vs -0.84%). Prices accelerated for alcoholic beverages and tobacco (1.04% vs 0.52%), education (3.45% vs 3.30%), and miscellaneous goods and services (1.41% vs 1.03%). On a monthly basis, consumer prices rose 0.1%, rebounding from a 0.6% fall in November.

Consumer prices in Cyprus decreased by 0.5% year-on-year in November 2025, following a 0.3% drop in the previous month. This was the seventh straight month of deflation, as prices continued to decline for food and non-alcoholic beverages (-3.1% vs -2.1% in October), housing and utilities (-1.2% vs -1.1%), transport (-0.7% vs -0.4%), clothing and footwear (-7.6% vs -6.7%), and furnishings, household equipment and supplies (-0.8% vs -1%). On the other hand, prices rose mainly for restaurants and hotels (5% vs 4.4%), miscellaneous goods and services (1% vs 0.6%). On a monthly basis, consumer prices fell by 0.6% in November, the first decline in four months, reversing a 0.5% increase in October.