Cyprus Inflation

Inflation rises in July from June

Latest reading: Harmonized consumer prices increased 4.4% on a year-on-year basis in July, following a 4.1% increase in the previous month. July's reading was the strongest since March 2023. Relative to the previous month's figures, there were higher price pressures for housing and utilities (+7.0% on a year-on-year basis vs +4.6% in June) and restaurants and hotels (+11.9% vs +8.9% in June). In contrast, there were milder price pressures for food and non-alcoholic beverages (+4.5% vs +4.8% in June), transportation (+5.7% vs +7.6% in June) and recreation (+5.4% vs +9.7% in June). Meanwhile, consumer prices rose 2.9% in July, following a 3.1% increase in the prior month. Finally, harmonized consumer prices were up 0.75% in July in month-on-month terms, following a 0.94% increase in the prior month.

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