Local
articles | 24 February 2020

Eurozone inflation rises to 1,4%, stable at 0.7% in Cyprus

Eurozone’s annual inflation rate was 1.4% in January 2020, up from 1.3% in December 2019, according to Eurostat data released on Friday.

In Cyprus, inflation remained stable in January compared to December at 0.7%, while a year earlier the rate was 2.1%. 

In Greece, inflation also remained stable at 1.1% and increased compared to a year ago, when it stood at 0.5%.

The lowest annual rates were registered in Italy (0.4%), Cyprus (0.7%), Denmark and Portugal (both 0.8%).

The highest annual rates were recorded in Hungary (4.7%), Romania (3.9%), Czechia and Poland (both 3.8%).

Compared with December 2019, annual inflation fell in five Member States, remained stable in another five and rose in 18. 

The highest contribution to the annual euro area inflation rate in January 2020 came from services (+0.68 percentage points, pp), followed by food, alcohol & tobacco (+0.40 pp), energy (+0.19 pp) and non-energy industrial goods (+0.08 pp).

Source: In-Cyprus

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