BUSINESS

Cyprus has lowest annual inflation in the EU

TAGS: Cyprus, Economy

Cyprus registered the lowest annual inflation in the European Union for April 2018, with a rate of -0.3 pct, according to Eurostat.

In March Cyprus inflation was -0.4 pct and in April 2017 it was +2.1pct.

Behind Cyprus are Ireland (-0.1 pct) and Portugal (0.3 pct), while the highest rates recorded were in Romania (4.3 pct), Slovakia (3.0 pct) and Estonia (2.9 pct).

Euro area annual inflation rate was 1.2 pct in April (from 1.9 pct in 2017), and down from 1.3 pct in the previous month.

European Union annual inflation was 1.4 pct in April, down from 1.5 pct in March. A year earlier, the rate was 2.0 pct.

Compared with March 2018, annual inflation fell in twelve Member States, remained stable in one and rose in 14.

In April, the highest contribution to the annual euro-area inflation rate came from food, alcohol & tobacco (+0.47 pctage points), followed by services (+0.45 pp), energy (+0.25 pp) and non-energy industrial goods (+0.07 pp). [Kathimerini Cyprus]

 

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