Inflation in Cyprus
Cyprus - Inflation
Consumer prices fall on annual basis for third straight month in June
Consumer prices declined 0.4% from the previous month in June, following May’s 0.1% slip. June’s fall was primarily driven by lower prices for food and non-alcoholic beverages.
Consumer prices dipped 2.0% on an annual basis in June, the steepest fall in four years, after they had dropped 1.5% in May. Meanwhile, the annual average variation in consumer prices came in at minus 0.3% in June, down from May’s minus 0.2%. Lastly, harmonized consumer prices tumbled 1.4% year-on-year in May (April: -1.2% year-on-year), which is the latest month for which data is available.
FocusEconomics panelists project harmonized inflation to average 0.1% in 2020 and 0.5% in 2021.
Cyprus - Inflation Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | -2.1 | -1.4 | 0.5 | 1.4 | 0.3 |
Cyprus Inflation Chart
Source: National Statistical Service and FocusEconomics calculations.
Cyprus Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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Cyprus: Consumer prices fall on annual basis for third straight month in June
July 2, 2020
Consumer prices declined 0.4% from the previous month in June, following May’s 0.1% slip.
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Cyprus: Industrial output contracts at record pace in April on Covid-19 hit
June 30, 2020
Industrial production collapsed 35.3% year-on-year in April (March: -11.1% yoy), marking the sharpest drop on record.
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Cyprus: Consumer prices fall again year-on-year in May
June 4, 2020
Consumer prices fell 0.1% from the previous month in May, following April’s 1.5% drop.
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Cyprus: Economy loses notable steam in the first quarter
May 29, 2020
GDP growth eased to 0.9% year-on-year in the first quarter from 3.4% in the fourth quarter on partial Covid-19 effects.
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Cyprus: Industrial production falls at sharpest rate in over six years in March
May 28, 2020
Industrial output plummeted 12.7% year-on-year in March (February: +3.8% yoy), marking the steepest drop since November 2013.
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