2025.09.0509:06:10UTC+00Cyprus Consumer Prices Lowest in Over Four Years

In August 2025, consumer prices in Cyprus experienced a year-on-year decline of 0.90%, showing a slight improvement from the 0.92% decrease observed in the previous month. This represents the fourth consecutive month of deflation, noting the most significant drop in consumer prices since March 2021. There was a moderation in price declines for several categories, including alcoholic beverages and tobacco, which fell by 0.27% compared to 1.24% in July, recreation and culture at 3.90% down from 4.07%, restaurants and hotels, which eased to 4.54% from 5.00%, education at 3.89% against 3.92%, and communication with a decrease to 0.48% from 0.52%. Additionally, there was a more pronounced decline in clothing and footwear with prices dropping by 7.70% compared to a 7.30% decline earlier. Conversely, there was a rise in prices for health sectors at 1.71% from 1.68% and miscellaneous goods and services at 1.04% from 0.82%, while the rate of decline in costs for housing and utilities eased to -2.34% from -2.66%, furnishings, and household equipment and supplies at -0.50% from -0.61%, and transportation at -3.05% from -3.40%. On a monthly basis, consumer prices increased by 0.3% in August, recovering from a 0.5% decline in the previous period.