Cyprus Inflation (HICP, ann. var. %, eop)

Harmonized inflation drops to lowest level since March 2022 in February

Harmonized inflation came in at 6.7% in February, down from January’s 6.8%. February’s result marked the lowest inflation rate since March 2022. Looking at the details of the release, price pressures for food and transportation eased. That said, housing and utilities prices rose at a quicker pace.

Annual average harmonized inflation ticked up to 8.3% in February (January: 8.2%). Meanwhile, consumer price inflation fell to 6.7% in February, from January’s 7.1%.

Finally, harmonized consumer prices rose 0.82% in February over the previous month, swinging from the 1.43% fall seen in January. February’s jump was the highest reading since July 2022.