Latest reading: Inflation inched up to 0.2% in July, slightly above June’s 0.1% and market expectations of 0.1%. Prices rose...
Inflation in Cyprus
Harmonized consumer price inflation averaged 1.3% in the ten years to 2024. The 2024 average figure was 2.3%. 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 rises in June
Latest reading: Harmonized inflation came in at 0.5% in June, up from May’s 0.4%. Looking at the details of the release, prices for hospitality rose at a faster clip while transport prices fell at a slower pace. That said, price pressures for food plus housing and utilities softened. Annual average harmonized inflation fell to 1.9% in June (May: 2.1%). Meanwhile, consumer prices fell 0.4% on an annual basis in June, which was a larger fall compared to May's 0.2% decrease. Lastly, harmonized consumer prices rose 0.42% from the previous month in June, accelerating from May's 0.23% increase.
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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Switzerland: Inflation remains minimal in July -
United States: Inflation holds steady in July Latest reading: Inflation came in at 2.7% in July, matching June’s figure and below market expectations. Price pressures increased for... -
India: Inflation decelerates for ninth month in July Latest reading: Inflation fell for the ninth month running in July and hit a just-over eight-year low of 1.6%, down... -
China: Consumer prices are unchanged year on year in July Latest reading: Consumer prices were flat year-on-year in July, which followed June’s 0.1% increase. Higher prices for food, clothing, healthcare... -
Taiwan: Inflation increases in July but remains mild Latest reading: Inflation ticked up to 1.5% in July from June’s 1.4%. The reading was driven by rising price pressures... -
Denmark: Inflation reaches near two-year high in July Latest reading: Inflation increased to 2.3% in July, following June’s 1.9%. July’s result marked the highest inflation rate since August... -
Thailand: Consumer prices record biggest drop since February 2024 in July Latest reading: Consumer prices declined 0.7% in annual terms in July, a larger drop compared to June’s 0.2% year-on-year decrease...