Local
articles | 18 November 2016

Cyprus’ inflation at -1% in October 2016

Cyprus' inflation stood at -1% in October 2016, from 0.4% in September 2016, according to Eurostat.

Euro area annual inflation was 0.5% in October 2016, up from 0.4% in September. European Union annual inflation was 0.5% in October 2016, up from 0.4% in September. 

In October 2016, negative annual rates were observed in six Member States. The lowest annual rates were registered in Bulgaria and Cyprus (both -1.0%). The highest annual rates were recorded in Belgium (1.9%) and Austria (1.4%). Compared with September 2016, annual inflation fell in six Member States, remained stable in one and rose in twenty-one.

The largest upward impacts to euro area annual inflation came from restaurants and cafés (+0.07 percentage points), rents and tobacco (both +0.04 pp), while gas (-0.12 pp), vegetables (-0.06 pp) and milk, cheese and eggs (-0.05 pp) had the biggest downward impacts.

Source: Famagusta Gazette

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