Cyprus recorded an estimated annual inflation rate of 4 per cent in June 2026, up from 3.5 per cent in May, according to flash figures released on Tuesday by Eurostat, while inflation across the euro area eased.
The latest estimates from Eurostat, the statistical office of the European Union, also showed that consumer prices in Cyprus increased by 0.8 per cent on a month-on-month basis in June, as measured by the Harmonised Index of Consumer Prices (HICP).
The increase in Cyprus contrasted with the broader euro area, where annual inflation is estimated to have fallen to 2.8 per cent in June, down from 3.2 per cent in May.
The figures indicate that Cyprus’ annual inflation rate remained well above the euro area average, with price growth accelerating domestically even as inflationary pressures eased across the single currency bloc.
According to Eurostat’s flash estimate, energy recorded the highest annual inflation rate in the euro area at 8.7 per cent in June, although this marked a slowdown from 10.8 per cent in May.
Services inflation was estimated at 3.2 per cent, compared with 3.5 per cent a month earlier.
Meanwhile, food, alcohol and tobacco recorded annual inflation of 1.6 per cent, down from 1.9 per cent in May.
Non-energy industrial goods remained unchanged, with annual inflation estimated at 0.9 per cent, the same rate as in May.
The latest figures mark a sharp reversal from the picture seen in March, when Cyprus recorded one of the lowest inflation rates in the EU at 1.5 per cent.
At the time, inflation remained relatively subdued, as the data had not yet reflected the inflationary pressures stemming from the conflict in the Middle East and Gulf region, particularly through higher energy costs.
By June, however, those pressures had become more apparent, with Cyprus’ annual inflation rising to 4 per cent, well above the euro area average.
