Cyprus Records Lowest Annual Inflation Rate in the EU

Business Tuesday, 27 February, 2018

Cyprus registered the lowest annual inflation rate in the EU in January 2018 (-1.5%), followed by Ireland (0.3%) and Greece (0.2%), according to Eurostat, the statistical office of the European Union.

Meanwhile, Euro area annual inflation rate was 1.3% in January 2018, down from 1.4% in December 2017.

In January 2017, the rate was 1.8%. European Union annual inflation was 1.6% in January 2018, down from 1.7% in December 2017. A year earlier the rate was 1.7%, the Cyprus News Agency reports.

According to Eurostat, the highest annual rates were recorded in Lithuania and Estonia (both 3.6%) and Romania (3.4%). Compared with December 2017, annual inflation fell in twenty-one Member States, remained stable in one and rose in six.

In January 2018, the highest contribution to the annual euro area inflation rate came from services (+0.56 ), followed by food, alcohol & tobacco (+0.39), energy (+0.22) and non-energy industrial goods (+0.15)

Source: Gold News