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.