Latest reading: Consumer prices increased 3.1% on a year-on-year basis in May, following a 3.2% increase in the previous month....
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 2014 to 2025.
Source: Macrobond.
Cyprus Inflation Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | 2.3 | 8.1 | 3.9 | 2.3 | 0.9 |
| Inflation (CPI, ann. var. %, eop) | 4.8 | 7.9 | 1.6 | 2.6 | -0.5 |
| Inflation (HICP, ann. var. %, eop) | 4.8 | 7.6 | 1.9 | 3.1 | -0.5 |
Inflation rises in April from the prior month
Latest reading: Harmonized consumer prices rose 3.0% on a year-on-year basis in April, following a 1.5% rise in the previous month. April's reading was the strongest since December 2024. Relative to the previous month's data, there were higher price pressures for transportation (+6.7% on a year-on-year basis vs +1.2% in March), housing and utilities (+1.2% vs -4.0% in March), recreation (+6.8% vs +5.7% in March) and restaurants and hotels (+4.8% vs +2.4% in March). In contrast, price pressures reduced for food and non-alcoholic beverages in April (+5.2% vs +6.5% in March). Meanwhile, consumer prices rose 2.8% in April, following a 1.2% rise in the previous month. Finally, harmonized consumer prices rose 2.22% in April on a month-on-month basis, following a 1.06% increase in the prior month.
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 13 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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Poland: Inflation inches down in May from April -
Qatar: Inflation eases in April Latest reading: Consumer prices were up 2.6% in annual terms in April, following a 4.2% rise in the previous month,... -
Australia: Inflation decelerates in April from the prior month Latest reading: Consumer prices increased 4.2% on a year-on-year basis in April, following a 4.5% increase in the prior month.... -
Singapore: Inflation is stable in April Latest reading: Consumer prices increased 1.8% in annual terms in April, stable from the previous month’s reading. Relative to the... -
Malaysia: Inflation rises in April from the prior month Latest reading: Consumer prices increased 1.9% in annual terms in April, following a 1.7% increase in the prior month. April’s... -
Ireland: Inflation is stable in April Latest reading: Harmonized consumer prices were up 3.6% on a year-on-year basis in April, unchanged from the prior month’s reading.... -
Euro Area: Inflation rises in April from March Latest reading: Harmonized consumer prices increased 3.1% in annual terms in April, following a 2.6% rise in the prior month....