articles | 15 July 2016

Cyprus inflation rate lowest in EU at -2%

Cyprus had the lowest annual inflation rate in the EU28, for the month of June 2016, rated at -2.0% according to Eurostat, followed by Bulgaria (-1.9%) and Croatia (-1.2%).

Meanwhile the Euro area annual inflation was 0.1% in June 2016, up from -0.1% in May. In June 2015 the rate was 0.2%. European Union annual inflation was 0.0% in June 2016, up from -0.1% in May. A year earlier the rate was 0.1%.

In June 2016, negative annual rates were observed in thirteen Member States. The highest annual rates were recorded in Belgium (1.8%), Sweden (1.2%) and Malta (1.0%).

Compared with May 2016, annual inflation fell in two Member States, remained stable in eight and rose in seventeen. The largest upward impacts to euro area annual inflation came from restaurants & cafés (+0.11 percentage points), rents and tobacco (both +0.06 pp), while fuels for transport (-0.41 pp), heating oil (-0.16 pp) and gas (-0.13 pp) had the biggest downward impacts.

Source: InCyprus

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