FX.co ★ Cyprus Consumer Prices Drop for 1st Time Since 2021

Consumer prices in Cyprus experienced a 0.2% year-on-year decrease in May 2025, marking the first decline since March 2021. The previous month saw a 0.2% increase. The primary factors contributing to this downturn were substantial reductions in transport prices, which fell by 6.6% compared to a 3.6% decrease in April, and in the housing and utilities sector, where prices dropped by 1.53% compared to 1.4% previously. Furthermore, there was a notable slowdown in price growth for food and non-alcoholic beverages, which rose by 1.98% compared to 2.59% in April, for restaurants and hotels, which saw an increase of 4.91% against 5.23%, and for miscellaneous goods and services, which grew by 0.96% versus 1.03%. Conversely, prices increased at a faster rate for recreation and culture, up by 4.01% from 2.49%, and for health, which rose by 1.62% compared to 1.55%. On a monthly basis, consumer prices climbed by 0.2% in May, following a 0.1% increase in April.