Insider Business Euroarea inflation at 2.2% in October 2018, at 1.9% in Cyprus

Euroarea inflation at 2.2% in October 2018, at 1.9% in Cyprus

The euro area annual inflation rate was 2.2% in October 2018, up from 2.1% in September 2018. A year earlier, the rate was 1.4%. European Union annual inflation was also 2.2% in October 2018, up from 2.1% in September 2018. A year earlier, the rate was 1.7%.

In Cyprus inflation stood at 1.9% in October 2018, up from 1.7% in September 2018 and 0.4% in October 2017.

These figures are published by Eurostat, the statistical office of the European Union.

The lowest annual rates were registered in Denmark (0.7%), Portugal (0.8%) and Ireland (1.1%).

The highest annual rates were recorded in Estonia (4.5%), Romania (4.2%) and Hungary (3.9%). Compared with September 2018, annual inflation fell in eight Member States, remained stable in five and rose in fourteen.

In October 2018, the highest contribution to the annual euro area inflation rate came from energy (+1.02 percentage points, pp), followed by services (+0.65 pp), food, alcohol & tobacco (+0.42 pp) and non-energy industrial goods (+0.11 pp).

(Cyprus News Agency)

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