Cyprus Inflation February 2021

Cyprus

Cyprus: Consumer prices drop at sharper rate in February

March 4, 2021

Consumer prices rose 0.11% over the previous month in February, bouncing back from January’s 1.06% drop. February’s upturn was largely owing to rebounding prices for food and non-alcoholic beverages.

Consumer prices slid 1.9% on an annual basis in February, following January’s 1.6% drop and logging the 11th successive month of falling prices. Accordingly, the annual average variation in consumer prices dropped, coming in at minus 1.1% in February (January: -0.9%). Lastly, harmonized consumer prices dropped 0.8% year-on-year in January, the last month for which data is available, matching December’s 2020 fall.

FocusEconomics panelists project harmonized inflation to average 0.9% in 2021, which is unchanged from last month’s forecast and 1.2% in 2022.


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Cyprus Inflation February 2021

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


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