Cyprus Inflation Surges to 5.2% in August 2026, Second Highest in Eurozone
Cyprus's annual inflation rate jumped to an estimated 5.2% in August 2026, up from 4.4% in July, making it the second-highest inflation in the eurozone after Lithuania. Prices rose 1.5% from the previous month, indicating a sharp acceleration in inflation over recent months.
Inflation in Cyprus was at zero in August 2025 but has steadily increased throughout 2026, reaching 5.2% in August. By comparison, the eurozone average inflation rate rose to 3.3% in August from 2.9% in July.
Energy costs remain the main driver of inflation in Cyprus, with prices growing 14.3% annually, up from 10.3% the previous month. Other sectors such as services and non-energy industrial goods also contributed to the overall rise, though food, alcohol, and tobacco prices remained steady.
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