Cyprus inflation eases to 2.9% in July as fuel and clothing prices fall

Nicosia, Cyprus. Cyprus’ inflation rate eased to 2.9 per cent in July 2026 from 3.1 per cent in June, according to figures released by the statistical service Cystat on Thursday. Lower fuel prices and a sharp fall in clothing and footwear contributed to a monthly decline in the consumer price index.

Consumer price index

The Consumer Price Index decreased by 0.68 points to 102.32 units in July, compared with 103.00 units in June.

This represented a monthly decline of 0.66 per cent. Prices were 2.93 per cent higher than in July 2025, while inflation for the first seven months of 2026 stood at 1.87 per cent compared with the corresponding period of 2025.

Annual changes by economic category

Petroleum products recorded the strongest annual increase among the main economic categories, rising by 12.19 per cent compared with July 2025.

Agricultural goods increased by 8.20 per cent, while electricity and water prices rose by 7.36 per cent and services by 3.41 per cent.

Industrial goods excluding petroleum products recorded the only annual decrease, falling by 0.54 per cent.

Monthly changes

Petroleum products recorded the steepest monthly decline, falling by 5.68 per cent compared with June.

Agricultural goods declined by 2 per cent, while industrial goods excluding petroleum products fell by 1.6 per cent.

Electricity and water prices rose by 5.28 per cent month on month, while services increased by 0.92 per cent.

Household expenditure

Among the main categories of household expenditure, the largest annual increase was recorded in housing, water, electricity, natural gas and other fuels, where prices rose by 7.21 per cent.