Consumer prices in Cyprus were down 0.8 percent year-on-year in October of 2020, following a 0.9 percent fall in the prior month and marking the 7th straight month of deflation. Prices continued to decrease mostly for housing & utilities (-6.8 percent vs -8.2 percent in September); transport (-4.2 percent vs -4.1 percent); furnishings (-1.4 percent vs -0.7 percent) and communication (-0.7 percent, the same pace as in September). On the other hand, cost of food & non-alcoholic beverages advanced further (3.2 percent vs 2.3 percent). On a monthly basis, consumer prices went up 0.6 percent, after increasing 0.9 percent in the previous month. source: Statistical Service of the Republic of Cyprus

Inflation Rate in Cyprus averaged 3.69 percent from 1951 until 2020, 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 November of 2020.

Inflation Rate in Cyprus is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Cyprus to stand at 1.00 in 12 months time. In the long-term, the Cyprus Inflation Rate is projected to trend around 1.30 percent in 2021 and 1.80 percent in 2022, according to our econometric models.

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Cyprus Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.80 -0.90 18.75 -3.59 1951 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-08-06 09:00 AM Jul -1.5% -2% -1.9%
2020-09-03 09:00 AM Aug -1.2% -1.5% -1.9%
2020-10-05 09:00 AM Sep -0.9% -1.2% -1.3%
2020-11-05 11:15 AM Oct -0.8% -0.9% -0.7%
2020-12-03 10:00 AM Nov -0.8% -0.7%
2021-01-04 10:00 AM Dec
2021-02-05 10:00 AM Jan
2021-03-05 10:15 AM Feb


News Stream
Cyprus Stuck in Deflation for 7th Month
Consumer prices in Cyprus were down 0.8 percent year-on-year in October of 2020, following a 0.9 percent fall in the prior month and marking the 7th straight month of deflation. Prices continued to decrease mostly for housing & utilities (-6.8 percent vs -8.2 percent in September); transport (-4.2 percent vs -4.1 percent); furnishings (-1.4 percent vs -0.7 percent) and communication (-0.7 percent, the same pace as in September). On the other hand, cost of food & non-alcoholic beverages advanced further (3.2 percent vs 2.3 percent). On a monthly basis, consumer prices went up 0.6 percent, after increasing 0.9 percent in the previous month.
2020-11-05
Cyprus Remains in Deflation for 6th Month
Consumer prices in Cyprus declined 0.9 percent year-on-year in September 2020, following a 1.2 percent fall in the previous month and marking the sixth straight month of deflation. Cost continued to drop for housing & utilities (-8.2 percent vs -7.2 percent in August); and transport (-4.1 percent vs -6.3 percent); furnishings & household equipment (-0.7 percent vs -0.2 percent); and communication (-0.7 percent, the same as in August). Meanwhile, cost of food & non-alcoholic beverages rose further (2.3 percent vs 0.7 percent). On a monthly basis, consumer prices went up 0.9 percent, after increasing 0.6 percent in the prior month.
2020-10-05
Cyprus Remains in Deflation for 5th Month
Consumer prices in Cyprus went down 1.2 percent year-on-year in August of 2020, the fifth straight month of falling prices. Biggest downward pressure came from cost of housing and utilities (-7.2 percent), namely electricity (-22.7 percent); and transport (-6.3 percent), namely petroleum products. In contrast, prices of clothing and footwear (3.5 percent) made the largest positive contribution. On a monthly basis, consumer prices went up 0.6 percent.
2020-09-03
Cyprus Consumer Prices Fall for 4th Month
Consumer prices in Cyprus decreased 1.5 percent year-on-year in July 2020, following a 2 percent fall in the previous month. It was the fourth consecutive month of deflation, as prices continued to drop for transport (-5.1 percent vs -8.3 percent in June); housing & utilities (-7.7 percent vs -4.8 percent); furnishings (-1.2 percent vs -1.4 percent); communications (-2.5 percent vs -2 percent); and alcoholic beverages & tobacco (-0.3 percent vs -0.8 percent). Also, cost of food & non-alcoholic beverages declined 1.5 percent, after increasing 0.6 percent in the prior month. On a monthly basis, consumer prices went down 0.8 percent, following a 0.4 percent decrease in June.
2020-08-06

Cyprus Inflation Rate
In Cyprus, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (16.2 percent of total weight). Transport accounts for 15.2 percent; Housing and Utilities for 12.3 percent; Miscellaneous Goods and Services for 8.8 percent; Clothing and Footwear for 8.5 percent and Restaurants and Hotels for 8.4 percent. Furniture, Household Goods and Maintenance; Health; Recreation and Culture; Communication; Education and Alcoholic beverages and Tobacco account for the remaining 30.6 percent of total weight.