Cyprus’ Consumer Price Index Rises In May

Cyprus’ Consumer Price Index (CPI) experienced an increase to 117.84 units in May of this year, up from the 117.09 units recorded in April, according to a report released on Thursday by the Cyprus Statistical Service (Cystat).

This change, amounting to a 0.75-unit rise, marked a 2.7 per cent uptick in inflation, pointing to a more costly landscape for consumers.

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The report noted that from January to May 2024, the CPI’s overall climb reached 2 per cent compared to the corresponding period in the previous year, showcasing sustained inflationary pressures across various sectors.

The most pronounced yearly increase was observed in petroleum products, surging by 10 per cent compared to May 2023.

Regarding monthly changes, agricultural goods led with a significant 6.3 per cent rise from the previous month.

Focusing on specific categories, restaurants and hotels experienced the largest annual growth rate at 6.0 per cent, closely followed by the transport sector, which saw a 5.4 per cent increase.

Comparatively, from April to May, the food and non-alcoholic beverages category recorded the highest increase, surging by 1.8 per cent.

The year-to-date analysis further reveals substantial increases in restaurants and hotels at 5.9 per cent, and miscellaneous goods and services at 3.7 per cent, underscoring the broader economic shifts affecting these sectors.

Furthermore, transport, restaurants, and hotels made the most significant contributions to the annual CPI change, with increments of 0.93 and 0.60 units respectively.

From April to May 2024, the food and non-alcoholic beverages category had the largest effect, increasing the CPI by 0.42 units.

The data also highlights notable contributions from petroleum products and catering services to the annual CPI, with increases of 0.91 and 0.6 units respectively.

Additionally, on a month-over-month basis, fresh vegetables and fresh fruit significantly impacted the CPI, contributing 0.33 and 0.29 units respectively.

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Cyprus And Greece Outline Joint Tourism Plans For Summer 2026

by THEFUTURE.TEAM

May 1, 2026

Strategic Partnership Enhances Tourism Prospects

The Cyprus Tourism Authority (EOT Cyprus) presented proposals for summer 2026 focused on strengthening tourism cooperation between Cyprus and Greece, with joint efforts aimed at attracting visitors from long-haul markets.

Greece: The Top Destination For Cypriot Travelers

At an event on April 28, Athena Spakouri, Director of EOT Cyprus, said Greece is expected to remain the main travel destination for Cypriot residents, with plans extending beyond established locations to include lesser-known regions. This approach reflects a broader effort to diversify travel options while maintaining strong demand between the two countries.

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Complementary Destinations, Unified Vision

Building on this, Spakouri noted that Cyprus and Greece offer complementary tourism experiences rather than competing directly. Joint programmes are therefore being positioned to attract visitors from markets such as the United States and China, while tourism activity continues to be assessed in the context of broader geopolitical developments.

Robust Air And Sea Connectivity

Supporting this cooperation, Konstantinos Kollias said around 600,000 Cypriots travelled to Greece in 2025. Frequent flights, short travel times, and ferry connections between Limassol and Piraeus continue to facilitate movement between the two countries and sustain travel flows.

Diverse Tourism Offerings for a New Era

Konstantinos Kollias highlighted that Greece’s tourism portfolio spans from traditional seaside holidays to sectors such as cultural, religious, gastronomic, agritourism, ecotourism, spa, conference, and medical tourism.

This range reflects the expansion of tourism offerings across different segments and travel preferences. In parallel, Joseph Iosif referred to Greece as a “second homeland” for Cypriot travellers, pointing to longstanding cultural and travel links between the two countries.

Innovative Programs And Strengthened Connections

Building on this approach, the EOT strategy includes initiatives focused on gastronomic routes, cultural trails, thematic and religious tourism, as well as curated city breaks in destinations such as Athens and Thessaloniki. These programmes were presented at the event alongside references to historical, cultural, and religious connections between Cyprus and Greece, including remarks from Bishop Gregorios of Mesaoria.

Boosting Air Connectivity And Island Accessibility

At the same time, airlines including Aegean Airlines, Sky Express, and Cyprus Airways outlined plans to expand connections between Cyprus and Greece, with a focus on increasing access to island destinations. The event also brought together stakeholders from the Deputy Ministry of Tourism, Hermes Airports, tour operators, and ACTAA, reflecting coordination across different parts of the tourism sector.

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