Inflation in Cyprus

Cyprus Harmonized Inflation | Economic News & Forecasts

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

2015   2016   2017   2018   2019  
Inflation Rate (HICP, annual variation in %)-1.6  -1.2  0.7  0.8  0.6  

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Cyprus Harmonized Inflation Chart

Cyprus Inflation
Note: Annual variation of consumer price index (HICP) in %.
Source: National Statistical Service and FocusEconomics calculations.

Cyprus Facts

Value Change Date
Exchange Rate1.120.65 %Dec 31

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