Inflation Cyprus 2008
Average inflation: 4.7%
Current Inflation
Inflation is high at 4.7%, well above the ECB target.
Peak and Trough
The highest inflation was in July at 5.6%. The lowest inflation was in December at 2.1%.
- Highest month
- July: 5.6%
- Lowest month
- December: 2.1%
- Difference
- 3.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 14.2%. The lowest price increase was in Core inflation with an average of 2.7%.
- Highest increase
- Energy: 14.2%
- Lowest increase
- Core inflation: 2.7%
Historical Context
Current inflation is 1.8% higher than the 5-year average of 2.9%. This approaches the highest level since records began (4.7% in 2008).
- 5-year average
- 2.9%
- 10-year average
- 2.9%
- All-time high (2008)
- 4.7%
- All-time low (2001)
- 2%
Trend
Inflation shows an upward trend. Compared to 2007, inflation has risen by +2.3 percentage point.
- Change vs. previous year
- +2.3 percentage points
- Largest monthly swing
- June: +3.6 percentage points
ECB Target
Inflation is 2.7% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
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 €104.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2008
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2007 |
|---|---|---|
| January | 4.3% | +2.7 |
| February | 4.9% | +3.4 |
| March | 4.7% | +3.2 |
| April | 4.6% | +2.8 |
| May | 4.9% | +2.7 |
| June | 5.5% | +3.6 |
| July | 5.6% | +3.2 |
| August | 5.4% | +2.9 |
| September | 5.3% | +2.7 |
| October | 5.2% | +2.2 |
| November | 3.4% | -0.1 |
| December | 2.1% | -1.8 |
| Average | 4.7% |
Data source
Data from WorldBank. Last updated: 06/01/2026.