Cyprus Inflation Soars to 4.4% in July, Surpassing EU Average Significantly
Cyprus reported an annual inflation rate of 4.4% in July 2026, making it one of the highest within the European Union. This figure places Cyprus joint third alongside Bulgaria, behind Romania at 8.2% and Lithuania at 5.4%, and well above the EU average of 3.0% and the euro area average of 2.9%. Monthly inflation also rose by 0.7% from June to July.
The most significant price increases in Cyprus were seen in restaurants and accommodation services, which rose by 12% year-on-year, and in housing-related costs including water, electricity, and gas, up 7%. Energy prices increased by 10.2% annually, while clothing and footwear, along with information and communication sectors, saw notable price declines. The data highlight Cyprus’s particularly strong domestic inflation pressures compared to the broader European context.
These figures indicate that Cyprus continues to experience higher inflationary pressures in the second half of 2026, contrasting with more moderate increases across much of the EU. Services and energy remain the key drivers of inflation within Cyprus, while decreases in certain categories provide some mitigation against the broader upward trend in consumer prices.
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