Inflation in Cyprus, as measured by the Harmonized Index of Consumer Prices (HICP), increased by 2.2% in November 2024 compared to November 2023, according to data released by the Statistical Service. Month-on-month, the HICP decreased by 1% from October to November 2024.
Annual Changes
When comparing November 2024 to the same month in 2023, notable price increases were observed in:
In terms of economic categories, the largest shifts were recorded in:
Monthly Changes
Between October and November 2024, the most significant price drops were noted in:
Among economic categories, the steepest decline occurred in the combined group of Food-Alcoholic Beverages-Tobacco, which fell by 2.3%.
Year-to-Date Overview
For the January–November 2024 period, the HICP rose by 2.2% compared to the same period in 2023. The most significant category increase was in Restaurants and Hotels, which saw prices climb by 5.5%.
Source: Stockwatch Cyprus