The annual inflation rate in Cyprus eased to 7.9 percent in December of 2022, following a 8.7 percent gain in the previous month. It was the lowest reading since March, as prices rose at a slower pace mostly for housing & utilities (17.1 percent vs 17.3 percent in November), food & non-alcoholic beverages (12.6 percent vs 15.5 percent), alcoholic beverages & tobacco (0.9 percent vs 1.1 percent), furniture & household equipment (6.7 percent vs 7.1 percent) and transport (9.3 percent vs 10.7 percent). On the other hand, inflation was steady for education (at 1.8 percent) and cost decreased further for communication (-3.6 percent vs -2.4 percent). Meanwhile, prices rose faster for clothing & footwear (0.4 percent vs 0.01 percent), restaurant & hotels (9.3 percent vs 9.1 percent) and recreation & culture (6.9 percent vs 6.5 percent). On a monthly basis, consumer prices went down 1 percent, after a 0.5 percent rise in November. source: Statistical Service of the Republic of Cyprus
Inflation Rate in Cyprus averaged 3.72 percent from 1951 until 2022, 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 2023.
Inflation Rate in Cyprus is expected to be 8.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.