Cliff on the ocean in Cyprus

Cyprus Inflation May 2023

Cyprus: Harmonized inflation falls to over one-year low in May

Harmonized inflation came in at 3.6% in May, down from April’s 3.9%. May’s reading represented the lowest inflation rate since September 2021. Looking at the details of the release, prices for transportation fell at a faster pace, while prices for housing and utilities, and prices for recreation rose at softer rates. That said, prices for food inflation accelerated in May.

Annual average harmonized inflation fell to 7.4% in May (April: 7.9%). Meanwhile, consumer price inflation fell to 3.0% in May, from the previous month’s 3.7%.

Finally, harmonized consumer prices increased 0.35% in May over the previous month, slowing down from April’s 0.91% increase. May’s result marked the lowest reading since January.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest