Prices in Cyprus have risen by 22% in six years. Electricity is more expensive by over 112%.

Prices in Cyprus increased by a total of 22.12% between September 2020 and September 2026. The largest increases were for energy and fuel: electricity rose by 112.90%, diesel by 74.37%, and gasoline by 52.71%. Everyday purchases are also significantly more expensive.

These are cumulative increases over six years, not just increases from the past year. Annual inflation in September 2026 was approximately 3.7%, while prices increased by 0.74% compared to August. The latest data shows renewed pressure on household budgets following a previous slowdown in price growth.

Prices in Cyprus: energy prices have increased the most

A comparison of September 2020 and 2026 indicators shows how much energy costs have changed.

In the electricity category, the increase was 112.90%. This represents a more than doubling of the price index. However, this doesn't mean that every household's bill increased by exactly the same amount. Its amount also depends on consumption, fees, and applicable subsidies.

An even greater increase was recorded in the liquid fuels category, including heating oil – by 138.70%.

Drivers are also paying significantly more than they did six years ago. Diesel fuel prices have increased by 74.37%, and gasoline by 52.71%. The entire transportation category has seen a 36.06% increase.

Food is about a quarter more expensive

Food and non-alcoholic beverage prices increased by 25.33% during the period under review. The increase for food alone was 24.12%, and for non-alcoholic beverages, 38.92%.

However, the differences between individual products are significant. Among the meat categories mentioned, beef saw the largest price increase—by 72.11%. Sheep and goat meat saw a 71.06% increase.

Pork was 27.82% more expensive, while poultry was 8.09% more expensive. The latter figure represents a much slower price increase than for the other meats mentioned.

The daily basket is also burdened by price increases for other products:

• coffee and its substitutes — 56,91%,
• potatoes - 46,26%,
• vegetables in total — 44,12%,
• eggs - 42,14%,
• olive oil — 33,90%,
• bread — 24,82%,
• sugar - 24,13%.

All these values refer to a comparison of September 2026 with September 2020. They do not describe price changes for a specific brand or product in each store.

Clothes and footwear have become cheaper

The clothing and footwear category stands out among energy, fuel, and food. Its price index in September 2026 was 16.01% lower than six years earlier.

However, a decrease in one category does not automatically offset increases in others. For families that spend a large portion of their income on food, transportation, and energy, changes in these expenses are particularly significant.

Lower inflation does not mean a return to old prices

It's important to distinguish between the rate of price growth and the level of price growth. A decline in inflation means prices are rising at a slower rate. Only negative inflation indicates a decline in the overall price level in a given comparison.

In September 2022, annual inflation was 8.74%. Two years later, it was 0.69%, and in September 2025, there was a slight decline in prices – 0.65% year-on-year.

In September 2026, the index rose again to approximately 3.7%. Compared to September of the previous year, petroleum products increased in price by 25.8%, and electricity and water prices by 11.2%.

For residents, this means that current increases are stacked on top of those from previous years. Even slower inflation doesn't bring prices back to where they were six years ago.

Sources: Philenews, CYSTAT.