Cyprus’ annual inflation rate rose to 8.8 percent in April of 2022 from 7.1 percent in the previous month, the highest rate since February of 1982. Main upward pressure came from food and non-alcoholic beverage (11 percent vs 9.4 percent in March), housing and utilities (21.1 percent vs 16.6 percent), and transportation (18 percent vs 14 percent), amid surging prices for energy and agricultural commodities due to the war in Ukraine. Prices were also seen higher for restaurant and hotels (7.2 percent vs 4.7 percent) and furnishing and household equipment (4.2 percent vs 3.2 percent). On a monthly basis, consumer prices advanced 2.4 percent, the highest monthly rate since 1997, and picking up from an 1.8 percent increase from the previous month. source: Statistical Service of the Republic of Cyprus
Inflation Rate in Cyprus averaged 3.67 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 May of 2022.
Inflation Rate in Cyprus is expected to be 7.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cyprus Inflation Rate is projected to trend around 1.30 percent in 2023, according to our econometric models.