Cyprus inflation rises to 1.7% in January as euro area rate slows to 1.7%, Eurostat says

Nicosia, Cyprus. Inflation in Cyprus rose to 1.7% in January 2026 from 0.1% in December, Eurostat said on Wednesday. Euro area inflation slowed to 1.7% from 2.0%.

Cyprus and euro area inflation trends

In January 2025, inflation in Cyprus stood at 2.9%, based on the harmonised index of consumer prices (HICP). On a monthly basis, euro area inflation fell by 0.5% in January.

Euro area inflation components

Services recorded the highest annual inflation rate in the euro area in January at 3.2%, easing from 3.4% in December. Food, alcohol and tobacco rose by 2.7%, up from 2.5%, while non-energy industrial goods increased by 0.4% after 0.3% in December.

Energy prices fell by 4.1% year-on-year in January, compared with a decline of 1.9% in December. Inflation excluding energy eased to 2.3%, while core inflation, excluding energy, food, alcohol and tobacco, slowed to 2.2%, Eurostat said.

Inflation differences across member states

Slovakia recorded the highest annual inflation rate in January at 4.2%, followed by Croatia at 3.6% and Lithuania at 2.8%. Greece stood at 2.8%, while Spain recorded 2.5%.

Belgium’s inflation eased to 1.4%, while the Netherlands stood at 2.2% and Austria at 2.0%. Germany recorded inflation of 2.1%.

France posted inflation of 0.4%. Italy and Finland both recorded inflation of 1.0%, while Luxembourg stood at 1.6% and Portugal at 1.9%.

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