Cyprus Inflation August 2019


Cyprus: Consumer prices, on an annual basis, decline for the third successive month in August

September 5, 2019

Consumer prices rose 0.3% from the previous month in August, contrasting July’s 1.3% month-on-month decline. According to the Statistical Service of Cyprus (CYSTAT), August’s rebound was largely driven by higher prices for food and non-alcoholic beverages, and clothing and footwear.

Consumer prices, on an annual basis, slipped 0.7% in August, more sharply than the 0.3% dip logged in July and marking the third consecutive month of falling prices. Meanwhile, annual average inflation edged down to 1.3% in August from 1.5% in the previous month. Lastly, harmonized inflation for July—the latest month for which data is available—came in at 0.1%, down from 0.3% in June.

FocusEconomics panelists project harmonized inflation to average 1.0% in 2019, which is unchanged from last month’s forecast. For 2020, they expect inflation to average 1.4%.

Author:, Economist

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Cyprus Inflation Chart

Cyprus Inflation August 2019

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

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