Annual inflation decreases in Cyprus in January, according to Eurostat

11:00 - 26 February 2025

Economy Reporter

Annual inflation in Cyprus decreased to 2.9% in January 2025, from 3.1% in December 2024, while remaining comparatively stable across Europe (rising to 2.5% from 2.4% in the eurozone, and dropping to 2.8% from 3.1% in the EU, according to figures released by Eurostat.

A year earlier, in January 2024, annual inflation in Cyprus was significantly lower at 2.1%. At the same time, annual inflation stood at 2.8% in the eurozone and at 3.1% in the EU.

Among member states, the lowest annual rates were registered in Denmark (1.4%), Ireland, Italy and Finland (all 1.7%). The highest annual rates were recorded in Hungary (5.7%), Romania (5.3%) and Croatia (5.0%).

Compared with December 2024, annual inflation fell in eight member states, remained stable in four and rose in fifteen.

In January 2025, the highest contribution to the annual euro area inflation rate came from services (+1.77 percentage points, pp), followed by food, alcohol & tobacco (+0.45 pp), energy (+0.18 pp) and non-energy industrial goods (+0.12 pp).

(Source: CNA)

Annual inflation decreases in Cyprus in January, according to Eurostat

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