Consumer prices in Cyprus jumped by 1.6 percent year-on-year in April of 2021, after a 0.7 percent fall in the previous month. This increase broke with 12 straight months of price declines, as inflation soared for transports (8.32 percent vs 2.20 percent in March) and prices rebounded significantly for housing & utilities (2.61 percent -4.68 percent). In addition, food deflation slowed (-0.82 percent vs -2.17 percent), while the prices of clothing & footwear returned to rise (3.86 percent vs -0.41 percent). On a monthly basis, consumer prices rose 0.8 percent, easing from 1.3 percent climb in the prior month. source: Statistical Service of the Republic of Cyprus
Inflation Rate in Cyprus averaged 3.66 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 May of 2021.
Inflation Rate in Cyprus is expected to be 1.00 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 1.10 percent in 2022 and 1.30 percent in 2023, according to our econometric models.