Cyprus inflation hits 5.2 percent in August 2026

Cyprus recorded an annual inflation rate of 5.2 percent in August 2026, marking a significant acceleration from 4.4 percent in July. According to data from Eurostat and the national statistical service, this figure represents one of the highest inflation rates in the euro area, standing well above the regional average of 3.2 percent. Prices in Cyprus rose by 1.5 percent on a monthly basis, the strongest increase among reporting nations.

Sectoral analysis shows that restaurants and accommodation services experienced the largest annual price hike at 13.3 percent, followed by transport at 9.8 percent and housing-related utilities at 6.5 percent. Conversely, clothing and footwear saw a 5.5 percent decline, with information and communication prices also dropping by 1.6 percent. This upward trend has been consistent throughout the year, with inflation climbing steadily from 0.0 percent a year earlier to the current levels. These figures reflect a broader inflationary environment affecting the European Union and the euro area, although Cyprus’ growth rate in August significantly outpaced both.