Cyprus Inflation June 2021

Cyprus

Cyprus: Inflation comes in at highest level since March 2012 in June

July 1, 2021

Consumer prices rose 0.31% in June over the previous month, moderating from May's 0.63% rise. June's result marked the softest rise in prices since February. The moderation was primarily driven by plunging prices for food and non-alcoholic beverages. In addition, price pressures for transportation rose at a softer rate.

Inflation rose to 3.1% in June, above May’s 2.4%. June's reading represented the highest inflation rate since March 2012. Meanwhile, the trend pointed up, with the annual average variation of consumer prices coming in at minus 0.3% in June (May: -0.7%). Lastly, harmonized inflation rose to 2.2% in June, from May’s 1.5%.

FocusEconomics panelists project harmonized inflation to average 0.9% in 2021, which is unchanged from last month’s forecast and 1.2% in 2022.


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Cyprus Inflation June 2021

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


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