Cyprus Inflation Rate Highest Since 2023

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.

The annual inflation rate in Cyprus climbed to 2.8% in April 2026 from 1.2% in the previous month. This marked the highest reading since August 2024, as prices rebounded sharply in transport (8.2% vs -0.1% in March) and housing and utilities (2.7% vs -1.9%), while rising at a faster pace for health (1.1% vs 0.7%) and recreation and culture (4.2% vs 2.9%). At the same time, prices remained unchanged for alcoholic beverages and tobacco (0.8%), education (3.7%), and restaurants and accommodation services (3.3%). In contrast, inflation moderated in food and non-alcoholic beverages (4.8% vs 6.2%) and personal care, social protection and miscellaneous goods and services (0.9% vs 1.2%), while deflation persisted in furnishings, household equipment and routine maintenance of the house (-0.3% vs 0.3%) and information and communication (-2.0% vs -1.8%). On a monthly basis, consumer prices rose 1.7% in April from 1.2% in the previous month.