Cyprus Inflation Remains at 3-Year High

Cyprus’ annual inflation rate rose to 3.69% in September 2026 from 3.52% in August, remaining at its highest level since September 2023. The acceleration was driven largely by stronger price increases for housing, water, electricity, gas and other fuels (9.63% vs 6.86%) and transportation (11.87% vs 11.36%). Price growth also accelerated for restaurants and accommodation services (3.84% vs 3.42%) and health (1.29% vs 1.03%), while education eased (3.11% vs 3.52%). At the same time, inflation moderated for food and non-alcoholic beverages (3.56% vs 3.81%), recreation, sport and culture (3.09% vs 3.23%), and furnishings and household equipment (-0.48% vs -0.84%). Clothing and footwear prices fell at a faster pace (-10.75% vs -6.29%). On a monthly basis, consumer prices eased to 0.74% in September, from a 0.91% rise in August.

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.