# Cyprus economic growth and price trends

> Developing situation record from CLSTR: https://clstr.news/situations/cyprus-economic-growth-and-price-trends
> Updated: 2026-10-30T10:28:55.000Z. Sources: 4. Developments: 2.

Cyprus has maintained high economic growth rates for three consecutive years, with a 6% expansion in 2023, 6.6% in 2024, and a projected 4.8% for 2025. President Nikos Christodoulides attributed this performance to a strong fiscal position and budget surplus, which has facilitated investments in social welfare, healthcare, and education.

Despite this growth, citizens face cost of living pressures. While median earnings rose by 15%, half of the workforce earns gross monthly salaries of up to €1,953, and high costs for housing, energy, and essential goods impact disposable income. Fuel prices saw a 24.6% year on year increase in September.

By September 2026, industrial producer prices in Cyprus rose by 6.2% annually. Monthly data showed a 2.3% increase, driven largely by a 10.5% rise in electricity supply costs. Annual increases in Cyprus also included a 21.1% rise in electricity and a 10.3% increase in water supply and material recovery.

## Timeline

### 2026-10-30: Greece industrial producer prices surge 20.4% in September

Greece's industrial producer prices jumped 20.4% annually in September, driven by soaring energy and petroleum costs, according to ELSTAT data.

4 sources. https://clstr.news/cluster/industrial-producer-prices-rise-in-greece-and-cyprus

### 2026-10-20: Cyprus economy shows high growth rates amid cost-of-living concerns

Cyprus ranks among the EU's top two fastest-growing economies, but high living costs and fuel price hikes continue to impact many households despite rising median earnings.

6 sources. https://clstr.news/cluster/president-christodoulides-discusses-cyprus-economy-and-peace-talks

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Cite as: Cyprus economic growth and price trends. CLSTR, https://clstr.news/situations/cyprus-economic-growth-and-price-trends