Latest reading: Harmonized consumer prices rose 3.2% in annual terms in August, following a 3.0% rise in the prior month....
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 2014 to 2025.
Source: Macrobond.
Cyprus Inflation Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | 2.3 | 8.1 | 3.9 | 2.3 | 0.8 |
| Inflation (CPI, ann. var. %, eop) | 4.8 | 7.9 | 1.6 | 2.6 | -0.5 |
| Inflation (HICP, ann. var. %, eop) | 4.8 | 7.6 | 1.9 | 3.1 | 0.1 |
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.
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
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Euro Area: Inflation picks up in August from July -
Japan: Inflation picks up in July from the prior month Latest reading: Consumer prices rose 1.9% on a year-on-year basis in July, following a 1.6% increase in the prior month.... -
UAE: Inflation eases in July from the prior month Latest reading: Consumer prices in Dubai rose 5.3% in annual terms in July, following a 5.7% increase in the prior... -
Netherlands: Inflation picks up in July from the prior month Latest reading: Harmonized consumer prices were up 3.0% on a year-on-year basis in July, following a 2.5% increase in the... -
Italy: Inflation eases in July from the prior month Latest reading: Harmonized consumer prices increased 2.9% in annual terms in July, following a 3.0% increase in the previous month.... -
Portugal: Inflation is unchanged in July Latest reading: Harmonized consumer prices were up 3.1% in annual terms in July, unchanged from the previous month’s reading. Relative... -
Bulgaria: Inflation ebbs in July from the prior month Latest reading: Harmonized consumer prices increased 4.4% on a year-on-year basis in July, following a 5.2% rise in the previous...