Insider Economy Cyprus recorded lowest annual inflation in the EU in April 2019

Cyprus recorded lowest annual inflation in the EU in April 2019

Cyprus recorded the lowest annual inflation in the EU in April 2019, with 0.2%, according to Eurostat, the statistical office of the European Union.

More specifically, euro area annual inflation rate was 1.2% in May 2019, down from 1.7% in April 2019 and 2.0% in April 2018, while inflation dropped to 0.2% in Cyprus (from 1.2% in March 2019 and 1.0% in April 2018. In Greece inflation dropped to 0.6% in April 2019, from 1.1% in March 2019 and 0.8% in April 2018.

Meanwhile European Union annual inflation was 1.6% in May 2019, down from 1.9% in April 2019. A year earlier, the rate was 2.0%.

The lowest annual rates were registered in Cyprus (0.2%), Portugal (0.3%) and Greece (0.6%). The highest annual rates were recorded in Romania (4.4%), Hungary (4.0%) and Latvia (3.5%).

Compared with April 2019, annual inflation fell in sixteen Member States, remained stable in five and rose in six. In May 2019, the highest contribution to the annual euro area inflation rate came from services (+0.47 percentage points, pp), followed by energy (+0.38 pp), food, alcohol & tobacco (+0.29 pp) and non-energy industrial goods (+0.08 pp).

(Cyprus News Agency)

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