Latest reading: Inflation eased to 1.5% in May, below April’s 2.0%. May’s figure marked the weakest inflation rate since March...
Inflation in Cyprus
In the year 2024, the inflation in Cyprus was 2.26%, compared to -0.26% in 2014 and 3.93% in 2023. It averaged 1.31% over the last decade. For more inflation information, visit our dedicated page.
Cyprus Inflation Chart
Note: This chart displays Inflation (HICP, ann. var. %, aop) for Cyprus from 2021 to 2024.
Source: Macrobond.
Cyprus Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | -1.1 | 2.3 | 8.1 | 3.9 | 2.3 |
| Inflation (CPI, ann. var. %, eop) | -1.1 | 4.8 | 7.9 | 1.6 | 2.6 |
| Inflation (HICP, ann. var. %, eop) | -0.8 | 4.8 | 7.6 | 1.9 | 3.1 |
Harmonized inflation declines to lowest level since April 2021 in April
Latest reading: Harmonized inflation came in at 1.4% in April, down from March’s 2.1%. April's result represented the lowest inflation rate since April 2021. The decline was largely due to falling prices for housing and utilities plus transportation. That said, food inflation accelerated slightly. Annual average harmonized inflation fell to 2.3% in April (March: 2.4%). Meanwhile, consumer price inflation fell to 0.2% in April from the previous month's 1.6%. Lastly, harmonized consumer prices increased 0.70% from the previous month in April, accelerating from March's 0.52% increase. April's uptick marked the highest reading since August 2024.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Cypriot inflation projections for the next ten years from a panel of 14 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Cypriot inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Cypriot inflation projections.
Want to get access to the full dataset of Cypriot inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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