articles | 20 September 2021

Annual inflation rate in Cyprus rose to 3.3% in August

The annual inflation rate in Cyprus rose to 3.3% in August – slightly above the euro area and EU averages, according to data released on Friday by Eurostat.

Moreover, the inflation rate rose both compared to last July when it was at 2.7%, and compared to August 2020, when it was at -2.9%.

As for the euro area annual inflation rate this rose to 3.0% in August, while annual inflation in the EU rose to 3.2%, according to the EU statistical office’s figures.

Compared with July, annual inflation remained stable in one Member State (Finland) and rose in twenty-six.

The lowest annual rates were registered in Malta (0.4%), Greece (1.2%) and Portugal (1.3%). The highest annual rates were recorded in Estonia, Lithuania and Poland (all 5.0%).

In August, the highest contribution to the annual euro area inflation rate came from energy (+1.44 percentage points), followed by non-energy industrial goods (+0.65 percentage points) and food, alcohol & tobacco and services (both +0.43 percentage points).

Source: In-Cyprus

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