Cyprus’ annual inflation in April reaches 4.3%

According to data by the Statistical Office of the European Communities (EUROSTAT) the annual inflation in Cyprus was 4.4% in February. In addition, Eurostat gave data regarding the Euro area and EU27 GDP. Cyprus’ GDP reached 3.9% in the first three months of 2008.
This figure records the highest increase of GDP among the Eurozone member states.
The Euro area annual inflation went down to 3.3% from 3.6% in March.
A year earlier the rate was 1.9%. Monthly inflation was 0.3% in April 2008.
The EU annual inflation was 3.6% in April 2008, down from 3.8% in March. A year earlier the rate was 2.2%. Monthly inflation was 0.4% in April 2008.
In April 2008, the lowest annual rates were observed in the Netherlands (1.7%), Portugal (2.5%) and Germany (2.6%), and the highest in Latvia (17.4%), Bulgaria (13.4%) and Lithuania (11.9%).
Compared with March 2008, annual inflation rose in eight Member States, remained stable in four and fell in fifteen.
The lowest 12-month averages up to April 2008 were registered in the Netherlands (1.7%), Malta (1.9%), Denmark, Sweden and the United Kingdom (2.2% each), and the highest in Latvia (13.0%), Bulgaria (10.1%) and Estonia (8.8%).
GDP grew by 0.7% in both the euro area (EA15) and the EU27 during the first quarter of 2008, compared with the previous quarter.
In the fourth quarter of 2007, growth rates were +0.4% in the euro area and +0.5% in the EU27.
Compared with the same quarter of the previous year, seasonally adjusted GDP grew by 2.2% in the euro area and by 2.4% in the EU27 in the first quarter of 2008, after +2.2% and +2.5% respectively in the previous quarter.