Inflation in Cyprus

Cyprus Harmonized Inflation | Economic News & Forecasts

Cyprus - Harmonized Inflation

Inflation comes in at highest level since August 1992 in March

Consumer prices increased 1.83% in March over the previous month, picking up from February's 1.21% rise. March's uptick marked the highest reading since September 2005. Looking at the details of the release, housing and utilities prices rose in March after dropping in the previous month, while price pressures for transportation eased slightly.

Inflation came in at 7.1% in March, up from February’s 6.6%. March's reading represented the highest inflation rate since August 1992. Meanwhile, the trend pointed up, with annual average inflation coming in at 4.4% in March (February: 3.7%).

FocusEconomics panelists project harmonized inflation to average 4.8% in 2022, which is up 2.4 percentage points from last month’s forecast, and 1.7% in 2023.

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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