articles | 20 December 2019

Cyprus records 0.5% annual inflation in November

Inflation in Cyprus was 0.5% in November, up from -0.5% in October and down from 1.6% in November 2018.

During the 11 months to November, an increase of 0.5% was observed compared to the same period of the previous year.

In November the greatest price change was recorded in the category of transport which increased by 3%.

In relation to October 2019, the greatest change was recorded in the category of restaurants and hotels, recording a drop of 5.1%.

During the first 11 months, compared with the same period last year, the greatest change was observed in the category of housing, water, electricity, gas and other fuels which recorded an increase of 4.4%.

The greatest annual change in economic categories was observed in energy with a drop of 5.7%.

In relation to October, the greatest change was observed in the category of services with a drop of 1.5%.

Euro area annual inflation rate was 1% in November, up from 0.7% in October. A year earlier, the rate was 1.9%.

European Union annual inflation was 1.3% in November, up from 1.1% in October.

The lowest annual rates were registered in Italy, Portugal (both 0.2%) and Belgium (0.4%).

The highest annual rates were recorded in Romania (3.8%), Hungary (3.4%), Slovakia (3.2%) and Czechia (3.0%).

Compared with October, annual inflation fell in five Member States, remained stable in two and rose in 20.

In November, the highest contribution to the annual euro area inflation rate came from services (+0.82 percentage points, pp), followed by food, alcohol & tobacco (+0.37 pp), non-energy industrial goods (+0.10 pp) and energy (-0.33 pp).

Source: Financial Mirror

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