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Harmonised inflation dropped for seventh month running in February

10:30 - 20 March 2023

Economy

Cyprus’ annual harmonised inflation rate for February dropped to 6.7%, continuing its downward trend for a seventh consecutive month following its peak of 10.6% registered in July last year.

According to the Statistical Service of Cyprus (Cystat), the Harmonised Index of Consumer Prices (HCIP) amounted to 111.23 units, marking a reduction of 0.8% compared with January 2023.

In January-February 2023, the HICP rose by 6.8% compared with the corresponding period of the previous year.

Compared to February 2022, the largest changes were recorded in Housing, Water, Electricity, Gas and Other Fuels with an increase of 18.8%, as well as Food and Non-Alcoholic Beverages with 9.5%.

The only category to record an annual reduction was Communication, with -3.3%.

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