Insider Economy Annual inflation in the eurozone rises to 1.3% in June 2019, 0.3%...

Annual inflation in the eurozone rises to 1.3% in June 2019, 0.3% in Cyprus

The euro area annual inflation rate was 1.3% in June 2019, up from 1.2% in May. A year earlier, the rate was 2.0%. European Union annual inflation was 1.6% in June 2019, stable compared to May. A year earlier, the rate was 2.1%. Inflation in Cyprus was 0.3% in June up form 0.2% in May. A year earlier the same rate was 1.7%, according to Eurostat, the statistical office of the European Union.

Eurostat reports that the lowest annual rates were registered in Greece (0.2%), Cyprus (0.3%), Denmark and Croatia (both 0.5%). The highest annual rates were recorded in Romania (3.9%), Hungary (3.4%) and Latvia (3.1%). Compared with May, annual inflation fell in seventeen Member States, remained stable in one and rose in nine. In June, the highest contribution to the annual euro area inflation rate came from services (+0.73 percentage points, pp), followed by food, alcohol & tobacco (+0.30 pp), energy (+0.17 pp) and non-energy industrial goods (+0.07 pp).

Meanwhile in May 2019 compared with April 2019, seasonally adjusted production in the construction sector decreased by 0.3% in both the euro area (EA19) and the EU28, according to first estimates from Eurostat. In April 2019, production in construction decreased by 1.7% in the euro area and by 1.3% in the EU28. In May 2019 compared with May 2018, production in construction increased by 2.0% in the euro area and by 2.5% in the EU28.

In Cyprus production in construction increased by 3.4% in Q1 2019 in quarrterly basis, after falling by -0.2% in Q4 2018 and rising by 2.0% in Q1 2018. In annual basis, production in construction increased by 12.8% in Q1 2019, after 15.2% in Q4 2018 and 13.4% in Q1 2018.

In the euro area in May 2019, compared with April 2019, civil engineering fell by 0.8% and building construction by 0.3%. In the EU28, civil engineering fell by 0.5% and building construction by 0.2%. Among Member States for which data are available, the largest decreases in production in construction were recorded in Romania (-7.6%), Finland (-3.1%) and Sweden (-2.9%). The highest increases were observed in Slovenia (+4.1%), France (+1.9%) and the Netherlands (+1.4%).

In the euro area in May 2019, compared with May 2018, civil engineering increased by 2.3% and building construction by 2.0%. In the EU28, civil engineering rose by 4.7% and building construction by 2.0%. Among Member States for which data are available, the highest increases in production in construction were observed in Hungary (+26.2%), Romania (+23.8%) and Slovenia (+11.1%). Decreases were recorded in Finland (-1.6%) and Belgium (-1.5%).

(Cyprus News Agency)

Top Stories

Drop in new covid cases and hospitalised, 202 and one death

  Cyprus recorded one covid-19 death over the past 24 hours, raising the number of victims to 167, 111 men and 56 women with an...

Rapid test locations on Sunday

  Here are the rapid test locations for Sunday January 17 Limassol Tassos Papadopoulos Building-Technical University Limassol (corner of Ifigeneias and Themidos) 8.30-04.30 Ayia Varvara Church Zakaki 9.00-04.30 Ayios Stylianos Church,...

Low visibility on highways as bad weather continues

  Visibility is very low on the Larnaca-Nicosia and Nicosia-Limassol highways, with the network near the Mosfiloti area becoming waterlogged. Police are calling on drivers to...

Explainer: Can Trump pardon himself? Would the courts reject the move?

  As he prepares to end a tumultuous four years as U.S. president facing potential legal jeopardy, Donald Trump has discussed the possibility of pardoning...

U.S. state capitals on edge for armed protests as Trump presidency nears end

  U.S. law enforcement officials are gearing up for pro-Trump marches in all 50 state capitals this weekend, erecting barriers and calling in their National...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...