Inflation approaches Eurozone levels

Cyprus recorded a decrease in inflation during May 2005, reaching 2% from 2.8% in April. The annual harmonised inflation rate in Cyprus is now very near the average of the Eurozone.

According to figures released today by Eurostat, in May 2005 the lowest annual rates were observed in Sweden (0.2%), Finland (0.6%), the Czech Republic (0.9%) and the Netherlands (1.1%), and the highest rates were recorded in Latvia (6.5%), Luxembourg (3.7%), Hungary (3.5%) and Greece (3.2%).

The lowest 12-month averages up to May 2005 were in Finland (0.3%), Sweden (0.9%), Denmark (1.1%) and the Netherlands (1.3%); the highest were in Latvia (7.0%), Hungary (5.3%), Slovakia (5.0%) and Estonia (4.2%).