Inflation Cyprus 2022
Average inflation: 8.4%
Current Inflation
Inflation is very high at 8.4%, far above the ECB target.
Peak and Trough
The highest inflation was in July at 10.9%. The lowest inflation was in January at 5.4%.
- Highest month
- July: 10.9%
- Lowest month
- January: 5.4%
- Difference
- 5.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 32.1%. The lowest price increase was in Core inflation with an average of 5.3%.
- Highest increase
- Energy: 32.1%
- Lowest increase
- Core inflation: 5.3%
Historical Context
Current inflation is 6.0% higher than the 5-year average of 2.4%. This approaches the highest level since records began (8.4% in 2022).
- 5-year average
- 2.4%
- 10-year average
- 0.7%
- All-time high (2022)
- 8.4%
- All-time low (2015)
- -2.1%
Trend
Inflation shows an upward trend. Compared to 2021, inflation has risen by +5.9 percentage point.
- Change vs. previous year
- +5.9 percentage points
- Largest monthly swing
- February: +8.5 percentage points
ECB Target
Inflation is 6.4% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €108.40 next year at this inflation rate.
Multi-year trend
Monthly figures 2022
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2021 |
|---|---|---|
| January | 5.4% | +7.0 |
| February | 6.6% | +8.5 |
| March | 7.1% | +7.8 |
| April | 8.8% | +7.2 |
| May | 9.1% | +6.7 |
| June | 9.6% | +6.5 |
| July | 10.9% | +6.9 |
| August | 8.9% | +3.9 |
| September | 8.7% | +4.6 |
| October | 8.8% | +4.5 |
| November | 8.7% | +4.4 |
| December | 7.9% | +3.1 |
| Average | 8.4% |
Data source
Data from WorldBank. Last updated: 06/01/2026.