The Harmonised Consumer Price Index (HCPI) in Cyprus increased by 2.2 per cent in November 2024, compared to the same month in 2023, according to the state’s statistical service.

However, on a month-to-month basis, the index recorded a decrease of 1 per cent.

The categories showing the highest annual increases were Recreation and Culture (7.8 per cent), Restaurants and Hotels (4.6 per cent), and Food and Non-Alcoholic Beverages (4.2 per cent).

In terms of economic categories, Services experienced the most significant rise, up by 4.4 per cent compared to November 2023, while Energy prices dropped by 4.4 per cent.

Compared to October 2024, the most notable monthly declines were seen in Food and Non-Alcoholic Beverages (-2.9 per cent) and Restaurants and Hotels (-2.2 per cent).

For economic categories, the steepest decline was observed in Food-Alcoholic Beverages-Tobacco (-2.3 per cent).

Over the January–November 2024 period, the HCPI rose by 2.2 per cent compared to the same period in 2023.

The category with the highest increase during this timeframe was Restaurants and Hotels, which surged by 5.5 per cent.