Cyprus's annual inflation rate accelerated to 2.6% in December of 2024 from 1.5% in the earlier month, marking the sharpest pace of inflation in six months as base effects that kept price growth muted waned. Inflation was sharp for food and non-alcoholic beverages (7.6%), restaurants and hotels (4.4%), and education (3.8%). On the other hand, inflation remained grounded for transportation (1%) and housing and utilities (1.5%). From the previous month, consumer prices rose by 0.1%. source: Statistical Service of the Republic of Cyprus

Inflation Rate in Cyprus increased to 2.60 percent in December from 1.50 percent in November of 2024. Inflation Rate in Cyprus averaged 3.70 percent from 1951 until 2024, reaching an all time high of 18.75 percent in July of 1951 and a record low of -3.59 percent in October of 1961. This page provides the latest reported value for - Cyprus Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Cyprus Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2025.

Inflation Rate in Cyprus increased to 2.60 percent in December from 1.50 percent in November of 2024. Inflation Rate in Cyprus is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cyprus Inflation Rate is projected to trend around 2.00 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-12-05 10:00 AM
Inflation Rate YoY
Nov 1.5% 0.6% 1.0%
2025-01-02 10:00 AM
Inflation Rate YoY
Dec 2.6% 1.5% 1.8%
2025-02-06 10:00 AM
Inflation Rate YoY
Jan 2.6% 3.3%


Related Last Previous Unit Reference
Consumer Price Index CPI 118.31 118.21 points Dec 2024
CPI Housing Utilities 146.40 146.08 points Dec 2024
CPI Transportation 113.85 114.08 points Dec 2024
Food Inflation 4.63 4.98 percent Nov 2024
GDP Deflator 117.03 116.76 points Dec 2023
Harmonised Consumer Prices 117.65 118.02 points Dec 2024
Harmonised Inflation Rate MoM -0.30 -1.00 percent Dec 2024
Harmonised Inflation Rate YoY 3.10 2.20 percent Dec 2024
Inflation Rate YoY 2.60 1.50 percent Dec 2024
Inflation Rate MoM 0.10 -0.40 percent Dec 2024
Producer Prices 122.00 123.40 points Nov 2024

Cyprus Inflation Rate
In Cyprus, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (19 percent of total weight). Transport accounts for 15 percent; Housing and Utilities for 11 percent; Miscellaneous Goods and Services for 9 percent; Restaurants and Hotels for 8 percent and Clothing and Footwear for 7 percent. Furniture, Household Goods and Maintenance; Health; Recreation and Culture; Communication; Education and Alcoholic Beverages and Tobacco account for the remaining 30 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
2.60 1.50 18.75 -3.59 1951 - 2024 percent Monthly


News Stream
Cyprus Inflation Accelerates
Cyprus's annual inflation rate accelerated to 2.6% in December of 2024 from 1.5% in the earlier month, marking the sharpest pace of inflation in six months as base effects that kept price growth muted waned. Inflation was sharp for food and non-alcoholic beverages (7.6%), restaurants and hotels (4.4%), and education (3.8%). On the other hand, inflation remained grounded for transportation (1%) and housing and utilities (1.5%). From the previous month, consumer prices rose by 0.1%.
2025-01-02
Cyprus Inflation Accelerates in November
Cyprus's annual inflation rate accelerated to 1.5% in November 2024, up from 0.6% in October. The decline in prices for housing and utilities moderated (-0.5% vs -2% in October), as did transportation (-1.8% vs -6.9%), while household equipment and supplies rebounded (0.2% vs -0.5%). In contrast, food inflation eased (4.6% vs 5). On a monthly basis, consumer prices decreased by 0.4%, following a 0.1% rise in the prior month.
2024-12-05
Cyprus Inflation Falls to Over 3-Year Low
The annual inflation rate in Cyprus fell to 0.6% in October of 2024 from 0.7% in the previous month, marking the lowest rate of price growth since base effects resulted in the end of deflation for the Cypriot economy in March of 2021. Consumer prices fell for housing and utilities (-2% vs 0.3% in September), transportation (-6.9% vs -6.3%), and furnishings, household equipment, and supplies (-0.5% vs -0.9%). In turn, food inflation rose further (5% vs 3.8%). From the previous month, consumer prices rose by 0.1%.
2024-11-07