S Cyprus Inflation Climbs To 1.7% In January

In January 2025, inflation in Cyprus stood at 2.9 per cent, based on the harmonised index of consumer prices (HICP).

At euro area level, services recorded the highest annual inflation rate in January at 3.2 per cent, easing from 3.4 per cent in December. 

Food, alcohol and tobacco rose by 2.7 per cent, up from 2.5 per cent, while non-energy industrial goods increased by 0.4 per cent after 0.3 per cent in December.

Energy prices fell by 4.1 per cent year-on-year in January, compared with a decline of 1.9 per cent in December. On a monthly basis, euro area inflation fell by 0.5 per cent.

Inflation excluding energy eased to 2.3 per cent, while core inflation, excluding energy, food, alcohol and tobacco, slowed to 2.2 per cent, Eurostat said. 

Across member states, inflation rates continued to vary. Slovakia recorded the highest annual inflation rate in January at 4.2 per cent, followed by Croatia at 3.6 per cent and Lithuania at 2.8 per cent.

Greece stood at 2.8 per cent, while Spain recorded 2.5 per cent.

Elsewhere, Belgium’s inflation eased to 1.4 per cent, while the Netherlands stood at 2.2 per cent and Austria at 2 per cent. Germany recorded inflation of 2.1 per cent.

At the lower end, France posted inflation of 0.4 per cent. Italy and Finland both recorded inflation of 1 per cent, while Luxembourg stood at 1.6 per cent and Portugal at 1.9 per cent.

In Cyprus, monthly inflation rose by 0.2 per cent in January, according to the HICP data.