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.

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Cyprus Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-12-02 10:00 AM Nov 8.7% 8.8% 8.5%
2023-01-05 10:00 AM Dec 7.9% 8.7% 8.4%
2023-02-03 10:00 AM Jan 7.9% 7.5%


Related Last Previous Unit Reference
Inflation Rate 7.90 8.70 percent Dec 2022
Consumer Price Index CPI 113.43 114.55 points Dec 2022
Harmonised Consumer Prices 111.93 112.81 points Dec 2022
GDP Deflator 111.89 111.47 points Sep 2022
Producer Prices 136.20 141.90 points Nov 2022
Inflation Rate MoM -1.00 0.50 percent Dec 2022
Food Inflation 12.57 15.46 percent Dec 2022
CPI Transportation 116.99 119.75 points Dec 2022
CPI Housing Utilities 142.10 142.96 points Dec 2022

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
7.90 8.70 18.75 -3.59 1951 - 2022 percent Monthly

News Stream
Cyprus Inflation Rate Eases to 9-Month Low
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.
2023-01-05
Cyprus Inflation Rate Eases to 8.7% in November
The annual inflation rate in Cyprus decreased to 8.7 percent in November of 2022, from 8.8 percent in the previous month. Prices slowed for transport (10.7 percent vs 11.9 percent in October); housing & utilities (17.3 percent vs 21.1 percent) and miscellaneous goods & services (4.1 percent vs 3.9 percent). Meanwhile, inflation was steady for restaurant & hotels (at 9.1 percent) and education (1.8 percent) and cost decreased further for communication (-2.4 percent vs -2.3 percent). On the other hand, prices advanced faster for food & non-alcoholic beverages (15.5 percent vs 13.2 percent); furniture & household equipment (7.1 percent vs 6.7 percent); health (0.8 percent vs 0.7 percent); recreation & culture (6.5 percent vs 5.8 percent) and alcoholic beverages & tobacco (1.1 percent vs 1 percent). On a monthly basis, consumer prices went up 0.5 percent, after a 0.8 percent rise in October.
2022-12-02
Cyprus Inflation Rate Rises to 8.8% in October
The annual inflation rate in Cyprus slightly increased to 8.8% in October of 2022 from 8.7% in the previous month, remaining well above the European Central Bank's target of 2%. Prices rose at a faster pace for food & non-alcoholic beverage prices (13.16% vs 7.69% in September), furnishing & household equipment (6.65% vs 6.25%) and miscellaneous goods and services (3.88% vs 3.15%). On the other hand, inflation eased for housing & utilities (21.07% vs 27.26%) and transport (11.9% vs 13.79%), while a price decline was reported for clothing & footwear (-0.43% vs 0.13). On a monthly basis, consumer prices increased by 0.79%, following a 0.19% decline in the previous month.
2022-11-03