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Cyprus Inflation May 2024

Cyprus: Harmonized inflation comes in at highest level since October 2023 in May

Harmonized inflation rose to 3.0% in May, following April’s 2.1%. May’s figure marked the highest inflation rate since October 2023. Looking at the details of the release, prices for transportation and for food and non-alcoholic beverages rose at a quicker pace in May. However, prices for recreation grew at a softer rate.

The trend pointed down slightly, with annual average harmonized inflation coming in at 2.6% in May (April: 2.7%). Meanwhile, consumer price inflation rose to 2.7% in May from April’s 2.4%.

Finally, harmonized consumer prices increased 1.20% from the previous month in May, which was below the 1.41% increase logged in April.

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