The annual inflation rate in Cyprus fell for a fourth consecutive month to 6.7% in February of 2023, the lowest since February of 2022, following a 7.1% hike in the previous month. Prices rose at a slower pace for food & non-alcoholic beverages (9.6% vs 10.8% in January), transport (2.7% vs 5.1%), recreation & culture (6.4% vs 6.6%) and restaurant & hotels (8.3% vs 8.7%). On the other hand, cost accelerated for alcoholic beverages & tobacco (1% vs 0.4%), clothing & footwear (1.7% vs 0.7%), housing & utilities (18.1% vs 17.3%) and furniture & household equipment (8.5% vs 8.2%), while inflation was steady for education (at 1.8%). On a monthly basis, consumer prices went up 0.8%, after a 1.3% decline in January. source: Statistical Service of the Republic of Cyprus
Inflation Rate in Cyprus averaged 3.73 percent from 1951 until 2023, 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 2023.
Inflation Rate in Cyprus is expected to be 6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.