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Cyprus Inflation April 2023

Cyprus: Harmonized inflation falls to lowest level since September 2021 in April

Harmonized inflation came in at 3.9% in April, which was down from March’s 6.1%. April’s result represented the lowest inflation rate since September 2021. Looking at the details of the release, prices for housing and utilities rose at a softer rate while prices for transportation dropped after growing in the previous month.

Accordingly, the trend pointed down, with annual average harmonized inflation coming in at 7.9% in April (March: 8.3%). Meanwhile, consumer price inflation fell to 3.7% in April, from the previous month’s 5.8%.

Finally, harmonized consumer prices rose 0.91% in April over the previous month, moderating from the 1.27% increase logged in March.

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