Consumer prices in Cyprus went down 1.9 percent year-on-year in February 2021, following a 1.6 percent fall in the previous month. It is the biggest decline since June of 2020, mainly due to housing and utilities (-4.7 percent), namely electricity (-14.3 percent) and food and non-alcoholic beverages (-4.4 percent). On the other hand, transport prices recorded the biggest increase (1 percent). On a monthly basis, consumer prices went up 0.11 percent, after decreasing 1.1 percent in the previous month. source: Statistical Service of the Republic of Cyprus
Inflation Rate in Cyprus averaged 3.66 percent from 1951 until 2021, 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 March of 2021.
Inflation Rate in Cyprus is expected to be 0.50 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 3.00 in 12 months time. In the long-term, the Cyprus Inflation Rate is projected to trend around 1.80 percent in 2022 and 2.20 percent in 2023, according to our econometric models.