Cyprus inflation rates rise in October 2026

Cyprus experienced a significant rise in inflation during October 2026. Eurostat reported the annual harmonised inflation rate at 5.4 per cent, an increase from 5.2 per cent in September and well above the euro area average of 4.0 per cent. Concurrently, the Cyprus Statistical Service (Cystat) released national data showing a 4.4 per cent inflation rate, with the Consumer Price Index rising by 1.12 per cent month-on-month to 105.17 points. The discrepancy between the figures arises from the application of different measurement methodologies.

The surge is largely driven by energy costs, with petroleum products recording a 30.6 per cent annual increase and electricity and water prices rising by 13.6 per cent. Transport costs saw a 13.7 per cent annual hike, while housing and utilities increased by 10.8 per cent. Conversely, industrial goods experienced a 1 per cent decline. Cumulative inflation in Cyprus since October 2022 has reached 11.16 per cent, reflecting compounding price pressures over the last four years. Across the euro zone, Lithuania reported the highest inflation at 6.1 per cent, while Malta recorded the lowest at 2.3 per cent.

Compared to October 2025, when inflation was at 0.2 per cent, the current figures indicate a marked acceleration in price pressures. Authorities continue to monitor these developments as part of broader efforts to track economic stability amidst fluctuating energy markets.