Nicosia, Cyprus. Cyprus recorded an estimated annual inflation rate of 4 per cent in June 2026, up from 3.5 per cent in May, according to flash figures released by Eurostat on Tuesday. In contrast, annual inflation across the euro area is estimated to have eased to 2.8 per cent in June from 3.2 per cent in May.
Cyprus inflation accelerates
Eurostat said consumer prices in Cyprus increased by 0.8 per cent on a month-on-month basis in June, as measured by the Harmonised Index of Consumer Prices (HICP).
The figures showed that Cyprus’ annual inflation rate remained above the euro area average, with domestic price growth accelerating while inflationary pressures across the single currency bloc softened.
Euro area components
According to Eurostat’s flash estimate, energy recorded the highest annual inflation rate in the euro area at 8.7 per cent in June, although this was down from 10.8 per cent in May.
Services inflation was estimated at 3.2 per cent, compared with 3.5 per cent a month earlier.
Food, alcohol and tobacco recorded annual inflation of 1.6 per cent, down from 1.9 per cent in May.
Non-energy industrial goods remained unchanged, with annual inflation estimated at 0.9 per cent, the same rate as in May.
Change from earlier months
The latest figures marked a sharp reversal from March, when Cyprus recorded one of the lowest inflation rates in the EU at 1.5 per cent.
At that time, inflation remained relatively subdued, as the data had not yet reflected the inflationary pressures stemming from the conflict in the Middle East and Gulf region, particularly through higher energy costs.