Consumer prices in Cyprus fell 2 percent year-on-year in June of 2020, the most since June 2016, following a 1.5 percent decrease in the previous month. It was the third consecutive month of deflation as prices continued to fall mostly for transport (-8.3 percent vs -11.1 percent); housing & utilities (-4.8 percent vs -2.1 percent); clothing & footwear (-3.5 percent vs -3.9 percent) and furnishings (-1.4 percent vs -1.1 percent). In addition, inflation slowed for food & non-alcoholic beverages (0.6 percent vs 3.7 percent). On a monthly basis, consumer prices were down 0.4 percent, after dropping 0.1 percent in the prior month.

Inflation Rate in Cyprus averaged 3.71 percent from 1951 until 2020, 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 July of 2020.

Inflation Rate in Cyprus is expected to be -0.10 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 1.00 in 12 months time. In the long-term, the Cyprus Inflation Rate is projected to trend around 1.30 percent in 2021 and 1.80 percent in 2022, according to our econometric models.

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Cyprus Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
-2.00 -1.50 18.75 -3.59 1951 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-04-02 09:00 AM Mar 0.7% 1.4% 1.4%
2020-05-07 09:15 AM Apr -1.2% 0.7% 0.3%
2020-06-04 09:00 AM May -1.5% -1.2% 1.5%
2020-07-02 09:00 AM Jun -2% -1.5% -1.1%
2020-08-06 09:00 AM Jul -2%
2020-09-03 09:00 AM Aug
2020-10-05 09:00 AM Sep -0.1%
2020-11-05 10:00 AM Oct


News Stream
Cyprus Annual Deflation Deepens in June
Consumer prices in Cyprus fell 2 percent year-on-year in June of 2020, the most since June 2016, following a 1.5 percent decrease in the previous month. It was the third consecutive month of deflation as prices continued to fall mostly for transport (-8.3 percent vs -11.1 percent); housing & utilities (-4.8 percent vs -2.1 percent); clothing & footwear (-3.5 percent vs -3.9 percent) and furnishings (-1.4 percent vs -1.1 percent). In addition, inflation slowed for food & non-alcoholic beverages (0.6 percent vs 3.7 percent). On a monthly basis, consumer prices were down 0.4 percent, after dropping 0.1 percent in the prior month.
2020-07-02
Cyprus Consumer Prices Fall the Most in Almost 4 Years
Consumer prices in Cyprus decreased 1.5 percent year-on-year in May of 2020, following a 1.5 percent fall in the previous month. It was the steepest decline in consumer prices since June of 2016, as the global pandemic continued to affect demand. Main downward pressure came from prices of transport (-11.1 percent vs -7.5 percent in April), on account of petroleum products (-21.9 percent); housing & utilities (-2.1 percent vs -0.2 percent), namely electricity (-4.5 percent) and water (-0.8 percent); clothing & footwear (-3.9 percent vs -2.8 percent) and furnishings (-1.1 percent vs -0.1 percent). In contrast, cost rebounded for food & non-alcoholic beverages (3.7 percent vs -1.3 percent), pushed up by agricultural products (7.4 percent). On a monthly basis, consumer prices edged down 0.1 percent, after decreasing 1.5 percent in the previous month.
2020-06-04
Cyprus Consumer Prices Fall the Most since 2016
Consumer prices in Cyprus slumped 1.2 percent year-on-year in April of 2020 after increasing 0.7 percent in the previous month. It was the steepest decline in consumer prices since November of 2016, as coronavirus lockdown hit demand. Lower prices were recorded for food & non-alcoholic beverages (-1.3 percent vs 0.4 percent in March); transport (-7.5 percent vs -0.5 percent); housing & utilities (-0.2 percent vs 3.7 percent); clothing & footwear (-2.8 percent vs -0.9 percent); furnishings (-0.1 percent vs -0.4 percent) and alcoholic beverages & tobacco (-0.4 percent vs 0.2 percent). Also, inflation slowed for restaurants & hotels (1.4 percent vs 1.5 percent) and communication (3.4 percent vs 4.1 percent). On a monthly basis, consumer prices went down 1.5 percent, following a 0.1 percent increase in the previous month.
2020-05-07
Cyprus Inflation Rate Eases to 0.7% in March
The annual inflation rate in Cyprus fell to 0.7 percent in March 2020 from 1.4 percent in the previous month. Prices slowed for food & non-alcoholic beverages (0.4 percent from 1.7 percent in February); restaurants & hotels (1.5 percent from 1.7 percent); and recreation & culture (0.2 percent from 0.3 percent). Also, cost of transport dropped (-0.5 percent from 4 percent) and prices fell further for miscellaneous goods & services (-0.4 percent from -0.1 percent); and furnishings (-0.4 percent from -0.2 percent). In contrast, cost of housing & utilities rose at a faster pace (3.7 percent from 3.4 percent); and prices of health rebounded (0.1 percent from -0.2 percent). On a monthly basis, consumer prices went up 0.1 percent, easing from a 0.4 percent gain in the prior month.
2020-04-02

Cyprus Inflation Rate
In Cyprus, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (16.2 percent of total weight). Transport accounts for 15.2 percent; Housing and Utilities for 12.3 percent; Miscellaneous Goods and Services for 8.8 percent; Clothing and Footwear for 8.5 percent and Restaurants and Hotels for 8.4 percent. Furniture, Household Goods and Maintenance; Health; Recreation and Culture; Communication; Education and Alcoholic beverages and Tobacco account for the remaining 30.6 percent of total weight.