Cyprus: Inflation Rate Rises to Near 2-Year High.

The annual inflation rate in Cyprus climbed to 2.8% in April 2026 from 1.2% in the previous month. This marked the highest reading since August 2024, as prices rebounded sharply in transport (8.2% vs -0.1% in March) and housing and utilities (2.7% vs -1.9%), while rising at a faster pace for health (1.1% vs 0.7%) and recreation and culture (4.2% vs 2.9%). At the same time, prices remained unchanged for alcoholic beverages and tobacco (0.8%), education (3.7%), and restaurants and accommodation services (3.3%). In contrast, inflation moderated in food and non-alcoholic beverages (4.8% vs 6.2%) and personal care, social protection and miscellaneous goods and services (0.9% vs 1.2%), while deflation persisted in furnishings, household equipment and routine maintenance of the house (-0.3% vs 0.3%) and information and communication (-2.0% vs -1.8%). On a monthly basis, consumer prices rose 1.7% in April from 1.2% in the previous month.