Cyprus Inflation Dips To 1.6% In March 2025: An Analytical Overview

by News Editor

April 8, 2025

The Consumer Price Index (CPI) for March 2025, as reported by CySTAT, reveals an encouraging downward trend in inflation, now at 1.6%. This marks a decline from 1.9% in February and 2.48% in January, reflecting a promising economic shift. Explore more on how global factors influence regional markets.

Significant Economic Changes

Compared to March 2024, Agricultural Products showed a notable annual increase of 6.6% despite a monthly dip of 2.4%. Price elevations in Restaurants and Hotels (5.1%), Housing, Water, Electricity, and Gas (4.2%), and Education (3.7%) were evident. Meanwhile, Clothing and Footwear experienced a 7.8% annual fall, impacting the overall index negatively.

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Monthly Economic Shifts

On a month-to-month basis, Clothing and Footwear prices surged by 2.8%, while Food and Non-Alcoholic Beverages saw a drop of 1.17%, adding downward pressure on the index. This dynamic showcases the complexity of price influences on the sector.

Unpacking Inflation Drivers

The CPI was positively impacted by Catering Services (+0.53 points) and Electricity (+0.29 points), although Clothing Items (-0.40 points) balanced the scales negatively. Fresh Vegetables (-0.35 points) and Petroleum Products (-0.14 points) further contributed to monthly fluctuations.

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Digital Euro Moves Forward In EU Push For Payment Independence

by THEFUTURE.TEAM

April 28, 2026

Strengthening Strategic Autonomy

At an event held at the House of the Euro in Brussels on April 22, central bank officials discussed the role of a digital euro in strengthening the European Union’s financial independence. Participants included Stelios Georgakis, Payments Supervision Director at the Central Bank of Cyprus, and Joachim Nagel, President of the Deutsche Bundesbank.

Redefining Central Bank Role In A Digital Era

Nagel stated that the digital euro is no longer viewed solely as a technical development but also as part of a broader policy direction. He emphasized the need to strengthen Europe’s payment infrastructure to ensure resilience and independence. The digital euro is intended to complement cash rather than replace it, maintaining the role of central bank money in a more digital financial system.

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Reducing Dependence On Non-European Infrastructure

According to Nagel, around two-thirds of card payments in Europe currently rely on non-European systems. This reliance is seen as a structural vulnerability. A digital euro could help reduce this dependency by supporting a more integrated and locally controlled payments framework.

Legislative Roadmap And Timeline

Looking ahead, Nagel expressed a strong optimism regarding the legislative process, suggesting that completion could occur by year‑end. This progress may set the stage for the first issuance of the digital euro as early as 2029, in alignment with Europe’s broader ambitions for financial resilience and technological advancement.

Comprehensive Payments Strategy

During the discussion, Georgakis outlined the European Central Bank’s approach to payments. The strategy combines retail and wholesale systems, including instant payments, a digital euro, and infrastructure based on distributed ledger technology. Improving cross-border payment efficiency remains a key objective.

Transforming Europe’s Financial Landscape

The discussion reflected alignment between central banks, policymakers, and other stakeholders on the direction of Europe’s payment systems. Development of a digital euro is positioned as part of a broader effort to strengthen financial infrastructure, support economic resilience, and maintain the euro’s role in a changing global environment.

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