Cyprus Inflation May 2020


Cyprus: Consumer prices fall again year-on-year in May

June 4, 2020

Consumer prices fell 0.1% from the previous month in May, following April’s 1.5% drop. May’s dip was mainly driven by lower prices for housing and utilities, and transport.

Consumer prices declined 1.5% on an annual basis in May, after they had dropped 1.2% in April—marking the lowest reading since June 2016. Meanwhile, the annual average variation in consumer prices dropped 0.2% in May, compared to the flat reading in April. Lastly, harmonized consumer prices tumbled 1.2% year-on-year in April (March: 0.1%), which is the latest month for which data is available.

FocusEconomics panelists project harmonized inflation to average 0.1% in 2020 and 0.5% in 2021.

Author:, Economist

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Cyprus Inflation Chart

Cyprus Inflation May 20 20 0

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

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