Annual inflation in Cyprus is expected to increase to 3.1% in December 2024, compared to 2.2% in November 2024, according to a flash estimate from Eurostat, the statistical office of the European Union.

Meanwhile eurozone annual inflation is expected to be 2.4% in December 2024, up from 2.2% in November.

Looking at the main components of eurozone inflation, services are expected to have the highest annual rate in December (4.0%, compared with 3.9% in November), followed by food, alcohol & tobacco (2.7%, stable compared with November), non-energy industrial goods (0.5%, compared with 0.6% in November) and energy (0.1%, compared with -2.0% in November).