inflation

With the EU recording an annual inflation rate of up to 1.6% and the Euro area 1.3% in December 2019, Greece and Cyprus have managed to register lower rates at 1.1% and 0.7% respectively according to the latest data published yesterday by Eurostat.

According to Eurostat, the highest annual inflation rates were recorded in Hungary (4.1%), Romania (4.0%), Czechia and Slovakia (both 3.2%). Along with Cyprus, the lowest were registered in Portugal (0.4%), and Italy (0.5%).

Greece and Cyprus register inflation rates lower than EU average 2

Compared with November 2019, annual inflation fell in two Member States, remained stable in three and rose in twenty-three. In December, the highest contribution to the annual euro area inflation rate came from services (+0.80 percentage points, pp), followed by food, alcohol & tobacco (+0.38 pp), non-energy industrial goods (+0.12 pp) and energy (+0.02 pp).

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