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articles | 17 July 2019

Cyprus registers EU's second lowest annual inflation rate in June 2019

In June 2019 Cyprus registered the EU’s second lowest annual inflation rate of 0.3% behind Greece with 0.2%, compared to a year earlier when the rate was 1.7%, according to Eurostat.

The euro area annual inflation rate was 1.3% in June 2019, up from 1.2% in May. A year earlier, the rate was 2.0%.

European Union annual inflation was 1.6% in June 2019, stable compared to May. A year earlier, the rate was 2.1%.

The lowest annual rates were registered in Greece (0.2%), Cyprus (0.3%), Denmark and Croatia (both 0.5%).

The highest annual rates were recorded in Romania (3.9%), Hungary (3.4%) and Latvia (3.1%). Compared with May, annual inflation fell in 17 Member States including Cyprus, remained stable in one and rose in nine.

In June, the highest contribution to the annual euro area inflation rate came from services (+0.73 percentage points), followed by food, alcohol & tobacco (+0.30 pp), energy (+0.17 pp) and non-energy industrial goods (+0.07 pp).

Source: Financial Mirror

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