Consumer prices in Cyprus declined 1.6 percent from a year earlier in January of 2021, after a 1.1 percent drop in the previous month. It was the biggest drop in consumer prices since June 2020. Cost of food tumbled 4.6 percent from a year earlier in January, the most since January 2018 and down from a 0.4 percent increase in December. source: Statistical Service of the Republic of Cyprus
Inflation Rate in Cyprus averaged 3.67 percent from 1951 until 2021, 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 2021.
Inflation Rate in Cyprus is expected to be 0.50 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 3.00 in 12 months time. In the long-term, the Cyprus Inflation Rate is projected to trend around 1.80 percent in 2022 and 2.20 percent in 2023, according to our econometric models.