Inflation in Cyprus

Cyprus Inflation | Economic News & Forecasts

Cyprus - Inflation

Inflation rises in December

Consumer prices fell 0.25% in December, contrasting November’s 0.54% increase. Falling prices for food and non-alcoholic beverages, as well as for transportation and housing and utilities, were largely behind December’s decline.

Inflation shot up to 4.8% in December, following November’s 4.3% increase, logging the highest print in four months. Accordingly, the annual average variation of consumer prices came in at 2.4% in December from 1.9% in November. Lastly, harmonized inflation rose to 4.7% in November, the last month for which data is available, from 4.4% in October.

FocusEconomics panelists project harmonized inflation to average 1.8% in 2022, which is up 0.4 percentage points from last month’s forecast and 1.2% in 2023.

Cyprus - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)-2.1  -1.4  0.5  1.4  0.3  

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Cyprus Inflation Chart

Cyprus Inflation
Note: Annual variation of consumer price index (HICP) in %.
Source: National Statistical Service and FocusEconomics calculations.

Cyprus Facts

Value Change Date
Exchange Rate1.120.65 %Dec 31

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