Cyprus Inflation Rate Eases Slightly in July

The annual inflation rate in Cyprus rose to 3.52% in August 2026 from 2.93% in the previous month, marking the largest increase since September 2023. The acceleration was driven largely by stronger price increases for transportation (11.36% vs 5.96% in July), restaurants and hotels (3.42% vs 3.08%), and miscellaneous goods and services (0.68% vs 0.32%). At the same time, price growth remained steady for education (at 3.52%) and insurance and financial services (at 0.03%), while costs fell at a softer pace for information and communication (-2.72% vs -3.26%) and furnishings and household equipment (-0.84% vs -0.98%). In contrast, inflation moderated for food and non-alcoholic beverages (3.81% vs 4.94%), alcoholic beverages and tobacco (0.88% vs 0.98%), housing and utilities (6.86% vs 7.21%), health (1.03% vs 1.11%), and recreation and culture (3.23% vs 3.56%). On a monthly basis, consumer prices rose 0.91% in August, rebounding from a 0.66% drop in July.

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.