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. source: Statistical Service of the Republic of Cyprus

Inflation Rate in Cyprus averaged 3.71 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 November of 2022.

Inflation Rate in Cyprus is expected to be 9.70 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.

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Cyprus Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-10-06 09:00 AM Sep 8.7% 8.9% 9.4%
2022-11-03 10:00 AM Oct 8.8% 8.7% 8.6%
2022-12-02 10:00 AM Nov 8.8% 8.5%


Related Last Previous Unit Reference
Inflation Rate 8.80 8.70 percent Oct 2022
Consumer Price Index CPI 114.01 113.12 points Oct 2022
Harmonised Consumer Prices 113.24 112.63 points Oct 2022
GDP Deflator 111.47 107.43 points Jun 2022
Producer Prices 142.60 140.40 points Sep 2022
Inflation Rate MoM 0.79 -0.19 percent Oct 2022
Food Inflation 13.16 7.69 percent Oct 2022
CPI Transportation 118.68 118.51 points Oct 2022
CPI Housing Utilities 143.36 145.10 points Oct 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
8.80 8.70 18.75 -3.59 1951 - 2022 percent Monthly

News Stream
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
Cyprus Inflation Rate at 6-Month Low
The annual inflation rate in Cyprus slowed to a six-month low of 8.7 percent in September of 2022 from 8.9 percent in the previous month. Prices eased for housing & utilities (27.26 percent vs. 28.5 percent in August), transport (13.8 percent vs. 19.73 percent) and clothing & footwear (0.13 percent vs. 2.04 percent). On the other hand, prices accelerated in food & non-alcoholic beverage prices (7.69 percent vs. 2.32 percent) and furnishing & household equipment (6.25 percent vs 6.02 percent). On a monthly basis consumer prices decreased 0.19 percent, following a 0.26 percent decline in the previous month
2022-10-06
Cyprus Inflation Rate Hits Highest Level Since 1981
The annual inflation rate in Cyprus rose to 10.9 percent in July of 2022 from 9.6 percent in the previous month. It was the highest inflation rate since August 1981, as prices advanced faster for transport (25.3 percent vs. 24.7 percent in June), housing & utilities (29.2 percent vs. 23.5 percent), and clothing & footwear (2.5 percent vs. a flat reading in June). On the other hand, food & non-alcoholic beverage prices eased further (7.5 percent vs. 7.9 percent). Monthly, consumer prices advanced 1.2 percent, accelerating from a 0.8 percent rise in June.
2022-08-04