Cyprus inflation hits 4.4 percent in July 2026

In July 2026, Cyprus recorded an annual inflation rate of 4.4 percent, according to data from Eurostat and the Cyprus Statistical Service. This figure marks a significant increase from 4.1 percent in June and reflects a steady upward trend observed throughout the year, with inflation climbing from just 0.9 percent in February to its current level. On a monthly basis, prices in Cyprus rose by 0.7 percent between June and July.

With this performance, Cyprus shares the third-highest inflation rate in the European Union with Bulgaria, trailing only Romania at 8.2 percent and Lithuania at 5.4 percent. The country's inflation rate is substantially higher than the broader EU average of 3.0 percent and the euro area average of 2.9 percent. The sharp rise in 2026 stands in stark contrast to the start of the year, showing that the Cypriot economy is experiencing stronger price pressures compared to its European counterparts. Over the past five months alone, the annual inflation rate in Cyprus has increased by 3.5 percentage points, highlighting an accelerating economic trend that remains well above the averages recorded in the euro zone and the EU as a whole.