🇨🇾Cyprus inflation rate
released 19 Aug 2026 · data through July 2026 · next release expected 31 Aug 2026
Cyprus adopted the euro in 2008. Harmonised inflation (HICP) — the EU-harmonised measure that makes prices comparable across Europe — stands at 4.4% as of July 2026. That is 2.4 percentage points above the ECB's 2% target, and 1.4 points above the eurozone average of 3.0%.
The breakdown shows core (excluding energy and food) at 3.9%, energy at 10.5%, food at 3.8% and services at 6.7%. The strongest pressure is in energy (10.5%), while food is the softest (3.8%).
Month on month the headline rose from 4.1% to 4.4%, extending the climb.
As a more recent euro adopter still converging toward western-European income levels, Cyprus has tended to run inflation above the euro-area average — a structural pattern (faster catch-up growth lifting wages and services prices) seen across the bloc's central, eastern and Baltic members rather than a quirk of one month.
Cyprus ranks number 5 of 30 European economies by annual inflation, from highest to lowest, between Bulgaria and Spain.
Cyprus's harmonised inflation is 4.4% as of July 2026 — abovethe European Central Bank's 2% target by 2.4 percentage points.
Compare with the rest of Europe on the European inflation ranking →
Frequently asked questions
- What is Cyprus's current inflation rate?
- Cyprus's annual inflation rate, measured by the harmonised index of consumer prices (HICP), is 4.4% as of July 2026.
- Is Cyprus's inflation above or below the ECB's 2% target?
- At 4.4%, it is 2.4 percentage points above the European Central Bank's 2% target.
- How does Cyprus's inflation compare with the rest of Europe?
- Cyprus ranks number 5 of 30 European economies by inflation, 1.4 points above the eurozone average of 3.0%.
- Did Cyprus's inflation rise or fall last month?
- Month on month, the headline rate rose from 4.1% to 4.4% in July 2026.