Local
articles | 17 March 2017

Annual inflation at 1.4% in Cyprus in February 2017

Inflation in Cyprus was 1.4% in February 2017, up from 0.7% in January 2017, with a monthly rate of 0.1%.

 A year earlier the rate was -2.2. 

Meanwhile Euro area annual inflation was 2.0% in February 2017, up from 1.8% in January, reaching the medium term objective of the European Central Bank. In February 2016 the rate was -0.2%. 

European Union annual inflation was 1.9% in February 2017, up from 1.7% in January. A year earlier the rate was -0.1%.

In February 2017, the lowest annual rates were registered in Ireland (0.3%), Romania (0.5%), Bulgaria and Denmark (both 0.9%).

The highest annual rates were recorded in Estonia (3.4%), Belgium (3.3%), Latvia and Lithuania (both 3.2%). Compared with January 2017, annual inflation fell in three Member States and rose in twenty-four.

The largest upward impacts to euro area annual inflation came from fuels for transport (+0.60 percentage points), vegetables (+0.25 pp) and heating oil (+0.16 pp), while telecommunication (-0.10 pp), garments (-0.07 pp) and gas (-0.06 pp) had the biggest downward impacts.

Source: Famagusta Gazette

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