Inflation in Cyprus remained subdued in December 2025, with the Harmonised Index of Consumer Prices showing only marginal annual growth and a monthly decline, according to the state statistical service (Cystat).

According to the Harmonised Index of Consumer Prices for December 2025, consumer prices rose by 0.1 per cent compared with December 2024, while recording a 0.4 per cent decrease compared with November 2025.

Over the full January-December 2025 period, the HICP increased by 0.8 per cent compared with the corresponding period of the previous year.

On an annual basis, the strongest upward pressures came from recreation and culture, which recorded a 5.1 per cent increase, and restaurants and hotels, where prices rose by 4.4 per cent.

At the same time, sharp declines were recorded in clothing and footwear, which fell by 7.9 per cent, and in housing, water supply, electricity and gas, which decreased by 3.2 per cent compared with December 2024.

On a month-on-month basis, comparing December 2025 with November 2025, the most notable changes were observed in transport, where prices fell by 1.7 per cent, and again in restaurants and hotels, which recorded a 0.9 per cent decline.

Looking at developments across the whole of 2025, the most significant annual movements compared with the previous year were seen in clothing and footwear, which declined by 6.4 per cent, alongside strong increases in recreation and culture, up by 6.2 per cent, and restaurants and hotels, which rose by 5.2 per cent.

From an economic classification perspective, the largest annual change compared with December 2024 was recorded in energy, where prices fell by 5.4 per cent, reflecting easing pressures in that category.

In contrast, the largest monthly change when compared with November 2025 was recorded in services, which declined by 0.8 per cent.

Taken together, the December figures point to muted inflationary pressures at the end of 2025, with price increases concentrated in consumer-facing services such as leisure and hospitality, while goods-related categories and energy continued to exert a dampening effect on overall inflation.