Cyprus Inflation Rises to Near 1-Year High

The annual inflation rate in Cyprus eased to 2.93% in July 2026 from 3.06% in the previous month. Price growth moderated for food and non-alcoholic beverages (4.94% vs 5.06% in June), transport (5.96% vs 8.26%), recreation, sports and culture (3.56% vs 5.25%), education (3.52% vs 3.71%), health (1.11% vs 1.13%), restaurants and accommodation services (3.08% vs 3.24%), and personal care, social protection, and miscellaneous goods and services (0.32% vs 0.65%). Furnishings and home decoration, household equipment, and routine home maintenance remained in deflation at -0.98%. Meanwhile, price growth accelerated for housing and utilities (7.21% vs 5.60%) and alcoholic beverages and tobacco (0.98% vs 0.95%), while deflation softened in clothing and footwear (-5.86% vs -7.65%) and information and communication (-3.26% vs -3.99%). On a monthly basis, consumer prices fell 0.66%, reversing a 0.25% increase in the previous month.

The annual inflation rate in Cyprus rose to 3.06% in June 2026 from 2.55% in the previous month. The latest figure marked the highest reading since October 2023, as prices increased in food and non-alcoholic beverages (5.06% vs 2.86% in May), housing utilities (5.60% vs 4.22%), health (1.13% vs 1.12%), recreation and culture (5.25% vs 4.59%). At the same time, deflation slowed for clothing and footwear (-7.65% vs -8.22%), furnishings and household equipment (-0.98% vs -1.10%), and information and communication (-3.99% vs -4.21%). Meanwhile, price growth moderated for alcoholic beverages and tobacco (0.95% vs 1.21%), transportation (8.26% vs 9.50%), restaurants and hotels (3.24% vs 3.52%), and miscellaneous goods and services (0.65% vs 0.68%). On a monthly basis, consumer prices grew by 0.25% in May, following a 0.06% drop in the preceding period.

The annual inflation rate in Cyprus eased to 2.55% in May 2026 from 2.83% in the previous month. Price growth moderated for food and non-alcoholic beverages (2.86% vs 4.76% in April) and personal care, social protection, and miscellaneous goods and services (0.68% vs 0.89%). Additionally, deflation deepened in clothing and footwear (-8.22% vs -5.29%), furnishings and home decoration, household equipment, and routine home maintenance (-1.10% vs -0.26%), and information and communication (-4.21% vs -1.99%). In contrast, costs increased faster for alcoholic beverages and tobacco (1.21% vs 0.81%), housing and utilities (4.22% vs 2.65%), transport (9.50% vs 8.17%), recreation, sports and culture (4.59% vs 4.15%), and restaurants and accommodation services (3.52% vs 3.27%). On a monthly basis, consumer prices fell 0.06%, reversing from a four-year high of 1.71% in the previous month.