articles | 20 May 2016

April 2016 inflation rate drops in Cyprus and EU

Cyprus had the third lowest yearly inflation in the EU for April 2016, recording a -2.1% rate of inflation according to Eurostat.

In April 2015, the rate was at 0%. The yearly inflation rate in the EU was also -0.2% in April 2016, receding from 0% in March.

In April 2016 negative percentages were recorded in 17 member states.

The highest inflation rates were recorded in Belgium (1.5%) and Sweden (1%). The lowest were recorded in Romania (-2.6%) and Bulgaria (-2.5%). Compared to March2016, inflation dropped in 13 member states, remained the same in 7, and increased in 8.

The largest positive effects on the Eurozone inflation rate came from restaurants and cafeterias, rent, and smoking, while transportation fuel, heating oil and natural gas contributed to a lower inflation rate.

Source: InCyprus

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