Latest reading: Inflation came in at 3.3% in June, down from May’s 3.5%. June’s result represented the weakest inflation rate...
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 2021 to 2024.
Source: Macrobond.
Cyprus Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | -1.1 | 2.3 | 8.1 | 3.9 | 2.3 |
| Inflation (CPI, ann. var. %, eop) | -1.1 | 4.8 | 7.9 | 1.6 | 2.6 |
| Inflation (HICP, ann. var. %, eop) | -0.8 | 4.8 | 7.6 | 1.9 | 3.1 |
Harmonized inflation rises in June
Latest reading: Harmonized inflation came in at 0.5% in June, up from May’s 0.4%. Looking at the details of the release, prices for hospitality rose at a faster clip while transport prices fell at a slower pace. That said, price pressures for food plus housing and utilities softened. Annual average harmonized inflation fell to 1.9% in June (May: 2.1%). Meanwhile, consumer prices fell 0.4% on an annual basis in June, which was a larger fall compared to May's 0.2% decrease. Lastly, harmonized consumer prices rose 0.42% from the previous month in June, accelerating from May's 0.23% increase.
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 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.
Latest Global Inflation News
-
Japan: Inflation drops to lowest level since November 2024 in June -
New Zealand: Inflation ticks up in Q2 Latest reading: Inflation rose to 2.7% in Q2 2025 from 2.5% in Q1, slightly below market expectations and within the... -
Hong Kong: Inflation declines to lowest level since March in June Latest reading: Inflation came in at 1.5% in June, which was down from May’s 1.9%. June’s figure represented the weakest... -
Qatar: Inflation comes back in June Latest reading: Inflation returned in June, with consumer prices rising 0.1% year on year and contrasting May’s 0.1% annual drop.... -
UAE: Inflation in Dubai holds steady in June Latest reading: Inflation in Dubai was stable at May’s 2.4% in June. Looking at the details of the release, faster... -
Cyprus: Harmonized inflation rises in June Latest reading: Harmonized inflation came in at 0.5% in June, up from May’s 0.4%. Looking at the details of the... -
Italy: Harmonized inflation rises in June Latest reading: Harmonized inflation inched up to 1.8% in June from May’s 1.7%, but remained below the Euro area average...