Cyprus: energy inflation rate by commodity 2024

Liquid fuel price inflation in Cyprus peaked in July 2022, reaching 80.4 percent. In the period of consideration, the inflation rates of various energy commodities in the country have risen significantly, with steep increases from 2021 onwards. However, since the beginning of 2023, energy commodity prices have shown a decrease in the country.

Harmonized index of consumer prices (HICP) energy inflation rate in Cyprus from January 2019 to May 2024, by commodity

Characteristic	Energy	Gas	Liquid fuels	Electricity
May '24	7.2%	-4.5%	10.6%	2%
Apr '24	6.4%	-8.3%	8.4%	3.3%
Mar '24	-3.9%	-10.2%	-0.7%	-7.9%
Feb '24	-2.3%	-6.8%	-5.9%	-2.5%
Jan '24	-2.9%	-2.5%	-8.7%	-1.4%
Dec '23	-4.2%	-3.7%	-10%	0.2%
Nov '23	-3.1%	-0.6%	-13.4%	2.8%
Oct '23	4.3%	2.1%	-11.9%	5.3%
Sep '23	0.4%	2.1%	-14.2%	-2.5%
Aug '23	-7.6%	-4.6%	-23.2%	-5.9%
Jul '23	-14.1%	-13.4%	-31.2%	-4.9%
Jun '23	-15.4%	-9.6%	-27.2%	-2.2%
May '23	-6.3%	-0.3%	-18.8%	8.2%
Apr '23	-1.7%	4%	-16.2%	8.7%
Mar '23	10.3%	7.4%	-6.5%	34.4%
Feb '23	13.5%	4.9%	13.3%	42.1%
Jan '23	16.2%	10.7%	22.7%	35.5%
Dec'22	19.3%	7.4%	30.5%	32.6%
Nov'22	21.4%	5.1%	44.7%	32.2%
Oct'22	25.6%	7.6%	55.8%	44.1%
Sep'22	34.3%	12.9%	67.4%	59.9%
Aug '22	40.6%	19.1%	71.7%	61.9%
Jul '22	49%	33%	80.4%	61.6%
Jun '22	43.6%	44.3%	76.3%	40.4%
May '22	37.6%	40.9%	63%	40.8%
Apr '22	33.6%	34.6%	62.3%	39%
Mar '22	28.3%	31.1%	53.7%	31.9%
Feb '22	26.2%	31.9%	44.3%	22.4%
Jan '22	25.1%	23.6%	41.1%	26.3%
Dec '21	28%	33.3%	43.4%	30.9%
Nov '21	31.3%	37.1%	48.5%	35.7%
Oct '21	27.1%	36.8%	39.2%	32.3%
Sep '21	25.5%	30.9%	29.9%	39.4%
Aug '21	26%	23.8%	29.5%	39.8%
Jul '21	23.5%	16.6%	28.8%	33.9%
Jun '21	20.1%	14.8%	21.1%	17.2%
May '21	18.3%	19.7%	18.9%	6.9%
Apr '21	10.6%	22.9%	6.7%	2.6%
Mar '21	-5.8%	2.3%	-3.3%	-16.8%
Feb '21	-10.2%	0.8%	-15.8%	-14.3%
Jan '21	-10.7%	-1.8%	-19.8%	-12.8%
Dec '20	-11.8%	-1.5%	-20.7%	-13.9%
Nov '20	-13%	-2.2%	-22.8%	-17.5%
Oct '20	-13.4%	-1.7%	-23.6%	-19.4%
Sep '20	-14.8%	-0.7%	-24.3%	-25.9%
Aug '20	-14.8%	-0.6%	-24.3%	-22.7%
Jul '20	-15.2%	-1.6%	-24.6%	-23.3%
Jun '20	-15.4%	-8.9%	-24.8%	-13.1%
May '20	-16.4%	-13.5%	-23.3%	-4.5%
Apr '20	-10.5%	-13.6%	-13.4%	-0.3%
Mar '20	2.1%	4.5%	-5.9%	9.2%
Feb '20	6.5%	8.7%	2.7%	5%
Jan '20	4.3%	12.3%	6.9%	-3.1%
Dec '19	-1%	3.3%	-5.2%	-4.4%
Nov '19	-5.7%	-5.9%	-13.8%	-0.2%
Oct '19	-6.7%	-14.9%	-11.3%	1.6%
Sep '19	-7.5%	-17.1%	-8.6%	-2%
Aug '19	-4.8%	-12.7%	-6.5%	2.3%
Jul '19	-2.4%	-10.7%	-6.5%	12%
Jun '19	-2.2%	-7.1%	-4.6%	12.8%
May '19	1.4%	1.1%	-3%	12.8%
Apr '19	2.9%	4.1%	-0.6%	13.6%
Mar '19	2.2%	4.8%	0.1%	17.9%
Feb '19	-0.4%	-3.8%	-4.8%	20.4%
Jan '19	1.7%	-13.1%	-6.5%	34.9%

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Release date

June 2024

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Region

Cyprus

Survey time period

January 2019 to May 2024

Supplementary notes

According to the source, the Harmonized Indices of Consumer Prices (HICP) measure changes in the prices of consumer goods and services over time. These indices provide comparable measures of inflation.

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Energy price inflation rate in Cyprus 2019-2024, by commodity