Cyprus among Eurozone countries with lowest annual inflation rates in May 2013

Cyprus, Greece and Latvia had the lowest annual inflation rates in the Eurozone in May 2013, according to figures released on Friday by Eurostat, the statistical office of the European Union.
More specifically, in May 2013, the lowest annual rates were observed in Greece (-0.3%), Latvia (-0.2%) and Cyprus (0.2%), and the highest in Romania (4.4%), Estonia (3.6%) and the Netherlands (3.1%).

Euro area annual inflation was 1.4% in May 20132, up from 1.2% in April. A year earlier the rate was 2.4%. Monthly inflation was 0.1% in May 2013.

European Union annual inflation was 1.6% in May 2013, up from 1.4% in April. A year earlier the rate was 2.6%. Monthly inflation was 0.1% in May 2013.

Compared with April 2013, annual inflation rose in sixteen Member States, remained stable in six and fell in four. The lowest 12-month average rates up to May 2013 were registered in Greece (0.3%), Sweden (0.7%) and Latvia (1.1%), and the highest in Hungary and Romania (both 4.3%) and Estonia (3.9%).

The largest upward impacts on euro area annual inflation came from fruit and vegetables (+0.11 percentage points each) and electricity (+0.09), while fuels for transport (-0.28), telecommunications (-0.18) and medical & paramedical services (-0.08) had the biggest downward impacts.