Cyprus inflation decelerates to 2.9 percent in July 2026

Inflation in Cyprus slowed to 2.9% in July 2026, down from 3.1% recorded in June 2026, according to the Statistical Service. The Consumer Price Index (CPI) decreased by 0.68 units on a monthly basis, falling to 102.32 units compared to 103.00 units in the previous month.

Annual price hikes were led by petroleum products (12.2%) and agricultural goods (8.2%), while housing, water, electricity, gas, and other fuels rose by 7.2%. Transportation costs increased by 6.0%, and food and non-alcoholic beverages grew by 4.9%. Conversely, clothing and footwear saw significant decreases, dropping 5.9% annually and 10.7% compared to June. On a monthly basis, electricity and water costs increased by 5.3%, while petroleum products saw a decline of 5.7%.

The latest data reflects ongoing fluctuations in consumer costs, with energy-related categories remaining primary drivers of annual price growth. The reduction in the monthly CPI suggests a period of cooling for certain consumer sectors, particularly within retail clothing and fuel, despite continued pressure in housing and utility costs.