Eurostat: Cyprus annual inflation increases but remains negative

The annual inflation in Cyprus marked an increase in March, remaining however negative, according to data released Wednesday by Eurostat.

The Statistic Service of the EU notes that in March 2014, negative annual rates were observed in Bulgaria (-2.0%), Greece (-1.5%), Cyprus (-0.9%), Portugal and Sweden (both-0.4%), Spain and Slovakia (both -0.2%) and Croatia (-0.1%).

The highest annual rates were recorded in the United Kingdom (1.6%), Malta and Austria (both 1.4%). Compared with February 2014, annual inflation fell in nineteen Member States, remained stable in three and rose in six.

Euro area annual inflation was 0.5% in March 2014, down from 0.7% in February. A year earlier the rate was 1.7%. Monthly inflation was 0.9% in March 2014. European Union annual inflation was 0.6% in March 2014, down from 0.8% in February. A year earlier the rate was 1.9%. Monthly inflation was 0.7% in March 2014.

The largest upward impacts to euro area annual inflation came from tobacco and restaurants & cafés (+0.08 percentage points each) and milk, cheese & eggs (+0.06), while fuels for transport (-0.24), telecommunications (-0.10) and heating oil (-0.06) had the biggest downward impacts.