Cyprus Inflation Inches Higher as Harmonized Consumer Price Index Rises 3.5%
New data from the Statistical Service reveals a 3.5% year-on-year increase in Cyprus's Harmonized Index of Consumer Prices for May, driven largely by significant spikes in transportation and recreational costs.
Inflation Trends Year-on-Year
The Harmonized Index of Consumer Prices (HICP) rose by 3.5% between May 2025 and May 2026, according to data published by the Statistical Service on Wednesday.
Key Drivers and Deflationary Sectors
Compared with May 2025, the categories Transport (9.7%) and Recreation, Sports and Culture (7.8%), showed the largest increases.
The largest negative changes were observed in the categories Clothing and Footwear (-8.5%) and Information and Communication (-2.9%).
Monthly Shifts and Category Changes
Compared with April 2026, HICP increased by 0.8%.
The largest changes compared to April were recorded in the categories Restaurants and Accommodation Services (4.9%) and Housing, Water, Electricity, Natural Gas and Other Fuels (2%).
The largest change in the economic categories, both compared with May 2025 and April 2026, was observed in the category Energy (12.6% and 2.1% respectively).
