Inflation in Cyprus
Harmonized consumer price inflation averaged 0.9% in the ten years to 2022, below the Euro Area regional average of 1.8%. The 2022 average figure was 8.1%. For more inflation information, visit our dedicated page.
Cyprus Inflation Chart
Note: This chart displays Inflation (HICP, ann. var. %, aop) for Cyprus from 2013 to 2022.
Source: CYSTAT.
Cyprus Inflation Data
| 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | 0.8 | 0.5 | -1.1 | 2.3 | 8.1 |
| Inflation (CPI, ann. var. %, eop) | 1.7 | 0.7 | -1.1 | 4.8 | 7.9 |
| Inflation (HICP, ann. var. %, eop) | 1.0 | 0.7 | -0.8 | 4.8 | 7.6 |
Harmonized inflation moderates in October
Harmonized inflation came in at 3.6% in October, down from September’s 4.3%. Looking at the details of the release, prices for food and non-alcoholic beverages, transporation and recreation grew at a more moderate pace in October. Annual average harmonized inflation fell to 4.9% in October (September: 5.3%). Meanwhile, consumer price inflation fell to 3.5% in October, from the previous month's 4.0%. Lastly, harmonized consumer prices dropped 0.14% in October over the previous month, contrasting the 0.17% rise recorded in September. October's result marked the weakest reading since January.
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.