Insider Economy Euro area annual inflation stable at 1.0% in August 2019, up to...

Euro area annual inflation stable at 1.0% in August 2019, up to 0.6% in Cyprus

The euro area annual inflation rate was stable at 1.0% in August 2019, compared to July, while a  year earlier, the rate was 2.1%, according to figures published on Wednesday by Eurostat, the statistical office of the European Union. In Cyprus inflation in August was 0.6%, up from 0.1% in July and down from 1.7% in August 2018. In Greece the same rate was 0.1% in August, down from 0.4% in  July and 0.9% in August 2018.

European Union annual inflation was stable at 1.4% in August 2019, compared to July. A year earlier, the rate was 2.2%. The lowest annual rates were registered in Portugal (-0.1%), Greece (0.1%) and Spain (0.4%).

The highest annual rates were recorded in Romania (4.1%), Hungary (3.2%), the Netherlands and Latvia (both 3.1%).

Compared with July, annual inflation fell in nine Member States, remained stable in six and rose in twelve. In August, the highest contribution to the annual euro area inflation rate came from services (+0.60 percentage points, pp), followed by food, alcohol & tobacco (+0.40 pp), non-energy industrial goods (+0.08 pp) and energy (-0.06 pp).

(Cyprus News Agency)

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