articles | 18 December 2013

Cyprus continues to record negative annual inflation

Cyprus and Greece are the only countries in the Eurozone, which recorded a negative inflation in November, according to recent figures by Eurostat.

According to recent figures published by Eurostat, the statistical office of the European Union, inflation in Cyprus was down in November to -0.8% (-0.5% in October) while in Greece it was -2.9% (-1.9% in October). Euro area annual inflation was 0.9% in November 2013 up from 0.7% in October. A year earlier the rate was 2.2%. Monthly inflation was -0.1% in November 2013. European Union annual inflation was 1.0% in November 2013 up from 0.9% in October. A year earlier the rate was 2.4%. Monthly inflation was -0.1% in November 2013.

In November 2013, the lowest annual rates were observed in Greece (-2.9%), Bulgaria (-1.0%) and Cyprus (-0.8%) and the highest in Estonia (2.1%), Finland (1.8%) and Germany (1.6%). Compared with October 2013, annual inflation fell in eleven Member States, remained stable in three and rose in thirteen. The lowest 12-month average rates up to November 2013 were registered in Greece (-0.7%), Latvia (0.2%) and Sweden (0.5%), and the highest in Romania (3.5%), Estonia (3.4%), Croatia and the Netherlands (both 2.7%).

Source: Financial Mirror

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