Cyprus Inflation March 2022

Cyprus

Cyprus: Inflation comes in at highest level since August 1992 in March

April 7, 2022

Consumer prices increased 1.83% in March over the previous month, picking up from February's 1.21% rise. March's uptick marked the highest reading since September 2005. Looking at the details of the release, housing and utilities prices rose in March after dropping in the previous month, while price pressures for transportation eased slightly.

Inflation came in at 7.1% in March, up from February’s 6.6%. March's reading represented the highest inflation rate since August 1992. Meanwhile, the trend pointed up, with annual average inflation coming in at 4.4% in March (February: 3.7%).

FocusEconomics panelists project harmonized inflation to average 4.8% in 2022, which is up 2.4 percentage points from last month’s forecast, and 1.7% in 2023.


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Cyprus Inflation March 2022

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Statistical Service of Cyprus.


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