Cyprus Inflation Rises by 2.3% in February, Driven by Leisure and Hotels

Cyprus experienced a 2.3% year-on-year increase in its Harmonised Consumer Price Index (HCPI) in February 2025, according to data released by the state statistical service.

Compared to January 2025, the index also recorded a slight rise of 0.3%.

The most significant annual price increases were observed in the recreation and culture category, which surged by 7.2%, followed closely by the restaurants and hotels sector, which recorded a 4.7% rise. Conversely, the clothing and footwear category saw the most notable decline, falling by 4.9% compared to February 2024.

On a month-to-month basis, the most prominent changes were observed in transport, which increased by 1.2%, and clothing and footwear, which rose by 0.8% in February compared to January 2025.

For the January–February 2025 period, when compared to the same timeframe in 2024, the highest price hike was recorded in the recreation and culture category, which rose by 7.3%.

Restaurants and hotels followed with a 4.7% increase, while food and non-alcoholic beverages saw a 3.9% rise.

Examining the inflationary trend by economic category, the largest annual increase in February 2025 was recorded in services, which climbed by 4.3%, followed by energy, which saw a 3.4% rise. On a monthly basis, energy recorded the most significant growth, increasing by 1.2% compared to January 2025.

The inflation data highlights key price pressures in Cyprus, with rising costs in leisure and hospitality sectors driving overall consumer price increases, while clothing and footwear continued to see price declines. 

By fLEXI tEAM