Inflation Cyprus 2004
Average inflation: 2.3%
Current Inflation
Inflation is normal at 2.3%, around the ECB target.
Peak and Trough
The highest inflation was in December at 4.2%. The lowest inflation was in March at 0.4%.
- Highest month
- December: 4.2%
- Lowest month
- March: 0.4%
- Difference
- 3.8 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 11.5%. The lowest price increase was in Core inflation with an average of 0.8%.
- Highest increase
- Energy: 11.5%
- Lowest increase
- Core inflation: 0.8%
Historical Context
Current inflation is around the 5-year average of 2.8%.
- 5-year average
- 2.8%
- 10-year average
- 2.8%
- All-time high (2003)
- 4.1%
- All-time low (2001)
- 2%
Trend
Inflation has remained relatively stable. Compared to 2003, the difference is minimal (-1.8 percentage point).
- Change vs. previous year
- -1.8 percentage points
- Largest monthly swing
- March: -5.6 percentage points
ECB Target
Inflation is close to the ECB target of 2.0%.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | 1.8% | -2.3 |
| February | 1.9% | -2.5 |
| March | 0.4% | -5.6 |
| April | 0.5% | -5.1 |
| May | 1.5% | -3.6 |
| June | 2.8% | -1.2 |
| July | 3.3% | 0.0 |
| August | 3.2% | +0.3 |
| September | 2.4% | -1.2 |
| October | 2.5% | -1.6 |
| November | 3.0% | -1.1 |
| December | 4.2% | +1.7 |
| Average | 2.3% |
Data source
Data from WorldBank. Last updated: 06/01/2026.