March Inflation in Cyprus Drops to 1.6%

In March, inflation in Cyprus, based on the basket of essential consumer goods, decreased to 1.6%. This marks the third consecutive month of decline, with inflation now lower than in February (1.9%), January (2.5%), and December 2024 (2.6%).

The Consumer Protection Service has released its latest price review for March 2025, tracking 250 essential consumer goods based on their volumes and prices in 400 retail stores across the island.

Compared to the previous month, prices rose in 23 categories, while 21 categories saw a decrease. Notably, the price of milk remained stable when compared to February.

The largest price increase was seen in Cypriot coffee, which went up by 8.7%, and was also 24.6% higher than in March 2024. Other notable price increases included frozen hamburgers (up 6.5%), baby food (up 4.1%), bottled water (up 4.1%), and mussels and clams (up 3.4%). Prices for broths, yogurt, and diapers also increased.

On the other hand, several items saw significant price reductions: vegetables dropped by 23%, fresh fish decreased by 11.3%, and cooking oil fell by 6.6%. Prices for legumes, women's hygiene products, and fabric softeners also decreased.

According to the Consumer Protection Service, the overall decrease in inflation is primarily due to the combined effect of falling prices for clothing and footwear, despite rising costs in restaurants, hotels, food, and non-alcoholic drinks.