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Cyprus Inflation November 2023

Cyprus: Harmonized inflation falls to over two-year low in November

Harmonized inflation fell to 2.4% in November from October’s 3.6%, marking the lowest rate since June 2021. The decline was broad-based, with reduced price pressures recorded for food and non-alcoholic beverages, transportation, recreation and housing and utilities.

In addition, the trend pointed down, with annual average harmonized inflation coming in at 4.4% in November (October: 4.9%). Meanwhile, consumer price inflation fell to 1.7% in November, from the previous month’s 3.5%.

Finally, harmonized consumer prices dropped 1.54% in November over the previous month, a sharper drop than the 0.14% fall seen in October. This marked the weakest reading since September 2019.

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