FX.co ★ Cyprus Inflation Rises to Near 1-Year High

The annual inflation rate in Cyprus accelerated to 1.15% in March 2026, up from 0.06% in February, reaching its highest level since April 2025. The increase was driven primarily by a rebound in petroleum product prices, which rose 2.26% after having fallen 7.42% previously. Additional upward pressure came from food and non-alcoholic beverages (6.2% versus 2.4%), recreation and culture (2.9% versus 2.4%), and health (0.7% versus 0.5%). In contrast, price growth eased for restaurants and hotels (3.3% versus 4.7%) and for alcoholic beverages and tobacco (0.8% versus 1%). At the same time, deflation moderated in transport (-0.1% versus -3.7%) and in clothing and footwear (-5.8% versus -6.8%). On a monthly basis, consumer prices rose 1.21%, rebounding from a 0.12% decline in the previous month.