Inflation in Cyprus accelerates to 3% amid rising energy prices

Annual inflation in Cyprus rose to 3% in April 2026, matching the Eurozone average. This is evidenced by the final data from Eurostat, which confirmed the preliminary estimates published at the end of April.

For Cyprus, this represents a notable acceleration of inflation compared to March, when the figure stood at 1.5%. Inflation in the Eurozone also increased — from 2.6% to 3%.

The main reason for the rise in prices both in Cyprus and across Eurozone countries was the increase in energy costs. Services, food, alcohol, and tobacco products also made a significant contribution to the overall inflation rate.

According to Eurostat data, services provided the largest contribution to Eurozone inflation in April — 1.38 percentage points. This was followed by energy (+0.99 p.p.), food, alcohol, and tobacco (+0.46 p.p.), as well as non-energy industrial goods (+0.20 p.p.).

Against the backdrop of pan-European indicators, Cyprus remains in the group of countries with moderate inflation. The lowest price growth rates in the EU were recorded in Sweden (0.5%), Denmark (1.2%), and the Czech Republic (2.1%). The highest inflation was observed in Romania (9.5%), Bulgaria (6.0%), and Croatia (5.4%).

Across the European Union as a whole, inflation rose in most member states in April: an increase was recorded in 21 states, while a decrease was seen in only five.

Economists note that rising energy prices continue to put pressure on household and business expenses, including in Cyprus, where the cost of electricity and fuel remains one of the key drivers of inflationary pressure.