Cyprus inflation hits 2.6% in May as diesel and petrol prices surge

Cyprus’s consumer price index rose 2.6% year-on-year in May, driven primarily by steep increases in fuel prices, according to figures released by the Statistical Service.

Diesel prices led the surge, rising 31.2% year-on-year in May 2026, reversing a 11.7% decline recorded in the same month of 2025. Petrol prices rose 17.8% over the same period, also reversing a 14.5% fall recorded in May 2025. The Statistical Service figures show that both fuel categories are swinging sharply upward after a...