Annual inflation rate in Cyprus increased to 1.1 percent in January 2020 from 0.7 percent in the previous month. Prices advanced faster for transport (4.1 percent from 1.2 percent in December); restaurant & hotels (1.5 percent from 1.2 percent); furniture & household equipment (0.3 percent from 0.2 percent) and communication (3.3 percent from 2.6 percent). In addition, cost rebounded for housing & utilities (1.2 percent from -0.3 percent) while inflation was steady for recreation & culture (at 0.2 percent) and education (at 1.7 percent). On the other hand, prices slowed for food & non-alcoholic beverages (0.9 percent from 1.8 percent); while cost fell for miscellaneous goods & services (-0.6 percent from 0.4 percent); clothing & footwear (-2.2 percent from -1 percent) and health (-0.2 percent from -0.3 percent). On a monthly basis, consumer prices went down 0.6 percent, following a 0.2 percent decrease in December.
Inflation Rate in Cyprus averaged 3.74 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.
Inflation Rate in Cyprus is expected to be 1.40 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 1.50 in 12 months time. In the long-term, the Cyprus Inflation Rate is projected to trend around 1.70 percent in 2021 and 1.80 percent in 2022, according to our econometric models.