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.

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Cyprus Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-02-03 10:00 AM Jan 7.1% 7.9% 7.5%
2023-03-03 10:00 AM Feb 6.7% 7.1% 6.1%
2023-04-06 09:00 AM Mar 6.7% 6.0%


Related Last Previous Unit Reference
Inflation Rate 6.70 7.11 percent Feb 2023
Consumer Price Index CPI 112.88 112.01 points Feb 2023
Harmonised Consumer Prices 111.16 110.33 points Feb 2023
GDP Deflator 113.28 112.40 points Dec 2022
Producer Prices 136.30 138.60 points Jan 2023
Inflation Rate MoM 0.78 -1.30 percent Feb 2023
Food Inflation 9.59 10.77 percent Feb 2023
CPI Transportation 112.18 112.21 points Feb 2023
CPI Housing Utilities 141.53 141.92 points Feb 2023

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
6.70 7.11 18.75 -3.59 1951 - 2023 percent Monthly

News Stream
Cyprus Inflation Rate at 1-Year Low
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.
2023-03-03
Cyprus Inflation Rate Eases to 10-Month Low
The annual inflation rate in Cyprus eased to 7.1% in January of 2023, following a 7.9% gain in the previous month. It was the lowest reading since March of 2022, as prices rose at a slower pace for food & non-alcoholic beverages (10.8% vs 12.6% in December), alcoholic beverages & tobacco (0.4% vs 0.9%), transport (5.1% vs 9.3%), restaurant & hotels (8.7% vs 9.3% ) and recreation & culture (6.6% vs 6.9%). Meanwhile, prices rose faster for clothing & footwear (0.7% vs 0.4% ), furniture & household equipment (8.2% vs 6.7%) and housing & utilities (17.3% vs 17.1%), while inflation was steady for education (at 1.8%). On a monthly basis, consumer prices went down 1.3%, the lowest since April 2020, after a 1% drop in December.
2023-02-03
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