Inflation in Cyprus
Cyprus - Harmonized Inflation
Inflation jumps in August
Consumer prices jumped 1.55% in August over the previous month, following the 0.11% rise in July. August’s result marked the highest print in over 15 years. August’s upturn was largely attributed to higher prices for food and non-alcoholic beverages. Moreover, prices for clothing and footwear rebounded over the previous month.
Inflation came in at 5.0% in August, following July’s 4.0%. August’s reading represented the highest inflation rate since September 2008. Accordingly, the trend pointed up, with the annual average variation of consumer prices coming in at 0.7% in August (July: 0.2%). Lastly, harmonized inflation rose to 2.7% in July, the latest month for which data is available, from 2.2% in June.
FocusEconomics panelists project harmonized inflation to average 0.9% in 2021, which is down 0.1 percentage points from last month’s forecast and 1.2% in 2022.
Cyprus - Harmonized Inflation Data
|Inflation Rate (HICP, annual variation in %)||-1.6||-1.2||0.7||0.8||0.6|
5 years of economic forecasts for more than 30 economic indicators.
Cyprus Harmonized Inflation Chart
Source: National Statistical Service and FocusEconomics calculations.
|Exchange Rate||1.12||0.65 %||Dec 31|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
September 2, 2021
Consumer prices jumped 1.55% in August over the previous month, following the 0.11% rise in July.
August 31, 2021
A second reading of national accounts data confirmed that the economy bounced back in the second quarter, growing 12.8% year-on-year, above the 2.0% contraction seen in the first quarter.
August 30, 2021
Industrial output growth moderated to 4.6% in annual terms in June, following May’s 12.0% expansion, logging the lowest print in four months.
August 17, 2021
The economy rebounded robustly in the second quarter, albeit flattered by a favorable base reading, with GDP expanding 12.8% year-on-year.
August 5, 2021
Consumer prices rose 0.11% July over the previous month, cooling from June’s 0.31% rise.