Inflation rose to 4.4% in October 2026, with the Consumer Price Index increasing by 1.12% compared with September, according to figures released on Thursday by the Cyprus Statistical Service.
For the period from January to October 2026, inflation stood at 2.5% compared with the same period last year.
Petroleum products record largest annual increase
Among economic categories, petroleum products recorded the largest annual increase, at 30.6%, followed by electricity and water, which rose by 13.6%.
Industrial products, excluding petroleum products, recorded a 1% decrease.
Looking at individual goods and services categories, the largest annual increases compared with October 2025 were recorded in transport, at 13.7%, and housing, water, electricity, gas and other fuels, at 10.8%.
Clothing and footwear recorded a decrease of 9.3%.
Monthly price increases across several categories
Compared with September 2026, the largest increases were recorded in clothing and footwear, at 5.4%, followed by housing, water, electricity, gas and other fuels, at 1.8%.
Food and non-alcoholic beverages rose by 1.5%, while transport increased by 1.4%.
Restaurants, recreation and housing drive annual inflation
In terms of their contribution to the annual change in the Consumer Price Index, restaurants and accommodation services had the largest positive impact, contributing 3.23 percentage points.
Recreation, sport and culture contributed 2.85 percentage points, while housing, water and energy added 1.93 points.
By contrast, health had a negative impact of 2.61 percentage points, information and communication technologies contributed -1.56 points, and clothing and footwear -1.37 points.
At the level of individual products and services, recreation services had the largest positive contribution to inflation, at 2.97 percentage points, followed by catering services at 2.83 points and rents at 1.56 points.
Mobile communication services had the largest negative contribution, at -1.53 percentage points.
On a monthly basis, vegetables had the largest positive impact on the Consumer Price Index, contributing 0.31 percentage points. Clothing contributed 0.28 points and fuels and lubricants 0.26 points.
Air passenger transport, fruit and nuts, and poultry meat had a negative impact on the monthly change.
Also read: Fuel tax cut may be extended until March 2027
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