Consumer prices in Cyprus declined 0.9 percent year-on-year in September 2020, following a 1.2 percent fall in the previous month and marking the sixth straight month of deflation. Cost continued to drop for housing & utilities (-8.2 percent vs -7.2 percent in August); and transport (-4.1 percent vs -6.3 percent); furnishings & household equipment (-0.7 percent vs -0.2 percent); and communication (-0.7 percent, the same as in August). Meanwhile, cost of food & non-alcoholic beverages rose further (2.3 percent vs 0.7 percent). On a monthly basis, consumer prices went up 0.9 percent, after increasing 0.6 percent in the prior month.
Inflation Rate in Cyprus averaged 3.70 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 October 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.