Cyprus: cost of living

Is the cost of living rising in Cyprus?

Consumer prices in Cyprus rose 3.7% in the year to September 2026, according to CYSTAT's consumer price index. Transport rose 11.9%, housing, water, electricity and fuels 9.6%, and food and non-alcoholic drinks 3.6%, while clothing and footwear fell 10.8%.

The Ministry of Finance's 2027 budget statement puts the cost of measures against rising prices at €152.6 million in 2026 and says the zero VAT rate is being extended to bread, milk, coffee, sugar and infant food. The price index shows changes over time; it does not compare price levels with other countries.

Official sources: CYSTAT: Consumer Price Index, September 2026 (PDF) · Ministry of Finance: 2027 State Budget press release

Why are fuel prices rising in Cyprus?

Prices of petroleum products in Cyprus were 25.8% higher in September 2026 than a year earlier, according to CYSTAT's consumer price index published on 8 October 2026. Fuels and lubricants made the largest upward contribution to the monthly change between August and September 2026.

The Ministry of Finance's 2027 budget statement links the higher inflation expected in 2026 mainly to the global energy crisis. The index measures how much prices have changed for a fixed basket of purchases.

Official sources: CYSTAT: Consumer Price Index, September 2026 (PDF) · Ministry of Finance: 2027 State Budget press release

How much is electricity in Cyprus?

Households in Cyprus paid an average of €0.2688 per kilowatt-hour for electricity in the first half of 2026, including taxes and levies, according to Eurostat. That was down from €0.2774 in the second half of 2025. The EU average in the second half of 2025 was €0.2896.

Eurostat's figure is for households using 2,500 to 4,999 kWh a year. CYSTAT's consumer price index shows electricity and water prices 11.2% higher in September 2026 than a year earlier, so the half-yearly average does not capture the latest months.

Official sources: Eurostat: Electricity prices for household consumers · CYSTAT: Consumer Price Index, September 2026 (PDF)

What is the poverty rate in Cyprus?

17.1% of people in Cyprus, about 167,000, were at risk of poverty or social exclusion in 2025, unchanged from 2024, according to CYSTAT's Survey on Income and Living Conditions published on 23 March 2026. The at-risk-of-poverty rate alone was 14.9%, up from 14.6%.

The poverty threshold, 60% of median equivalised disposable income, was €13,240 a year for a single person and €27,803 for two adults with two children under 14. The 2025 survey uses incomes from 2024. Before any social transfers, 33.6% of people would have been below the threshold.

Official sources: CYSTAT: Risk of Poverty 2025 (PDF) · Eurostat: People at risk of poverty or social exclusion

How fast are prices rising in Cyprus?

According to the IMF, consumer price inflation in Cyprus was 0.1% in 2025. The peak was 8.4% in 2022 and the low -2.1% in 2015. It is 48th highest of 48 in Europe & Central Asia, where the median is 3.7%. Worldwide: 151st of 165.

How much do people in Cyprus spend?

The latest figure from the World Bank, for 2025, is $20,222. It is the top of the series, which starts in 2005. Europe & Central Asia median: $11,266; Cyprus is 15th highest of 44. Of 124 countries with 2025 data, 19th highest.

What share of people in Cyprus live in extreme poverty?

The latest figure from the World Bank, for 2023, is 0.0%. That is the lowest since at least 2005. It is 32nd highest of 34 in Europe & Central Asia, where the median is 0.4%. Of 59 countries with 2023 data, 56th highest.

What is the poverty rate in Cyprus?

According to the World Bank, the share of people below the national poverty line in Cyprus was 13.9% in 2021. Its high point since 2005 was 2014, at 16.2%; its low point was 2020, at 13.8%. Europe & Central Asia median: 15.9%; Cyprus is 28th highest of 40. Worldwide: 56th of 72.

What is income inequality in Cyprus?

31.8: that is the Gini index in Cyprus for 2023, according to the World Bank. The peak was 37.0 in 2013 and the low 30.3 in 2005. Europe & Central Asia median: 31.5; Cyprus is 16th highest of 34. Of 59 countries with 2023 data, 37th highest.

How many people in Cyprus go hungry?

The latest figure from the FAO, for 2024, is 1.4%. Across Europe & Central Asia the middle value was 7.6%, and Cyprus placed 43rd highest of 45. World rank, highest first: 133rd of 135.