Cyprus Inflation December 2021


Cyprus: Inflation rises in December

January 7, 2022

Consumer prices fell 0.25% in December, contrasting November’s 0.54% increase. Falling prices for food and non-alcoholic beverages, as well as for transportation and housing and utilities, were largely behind December’s decline.

Inflation shot up to 4.8% in December, following November’s 4.3% increase, logging the highest print in four months. Accordingly, the annual average variation of consumer prices came in at 2.4% in December, up from 1.9% in November. Lastly, harmonized inflation rose to 4.7% in November, the last month for which data is available, from 4.4% in October.

FocusEconomics panelists project harmonized inflation to average 1.8% in 2022, which is up 0.4 percentage points from last month’s forecast and 1.2% in 2023.


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Cyprus Inflation Chart

Cyprus Inflation December 2021 0

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

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